Have you received a Form 12 for 2015 or previous years?

Approximately 40,000 taxpayers will or have already received a From 12 from the Revenue Commissioners since June 2013. This is likely to continue in 2016.

It is an effort from Revenue to get individuals in employment with additional non-PAYE income to file a tax return and declare all taxable income.

Who is it for?

The form is generally for PAYE workers that may have other income, which is outside the PAYE system. Other income typically includes, rental income, deposit interest income, foreign income and income from dividends.

3 reasons you may have received a request from Revenue to file a Form 12

  • If you have an additional property

For example if you have purchased a new home but have not yet updated your address with Revenue, it is likely that you received a form 12 on the assumption that you have an additional property and possibly have Rental Income.

Note: Revenue can match your addresses with property tax payments, household charge information, NPPR and PRTB records.
  • If you have Deposit Interest
Note: Revenue Commissioners have authority to access to individuals details in relation to deposit accounts.
  • If you have self-employed income outside of PAYE
Note: Revenue have access to Register of Business Names, for example.

What you need to know about Form 12

  • It can be filed as a paper form and posted directly to Revenue Commissioners
  • It can be completed electronically online through the PAYE anytime section on the Revenue Commissioners website, revenue.ie and by clicking ‘eForm12’. For this option you will need a Pin number that should be received by post from Revenue.
  • It should be completed by Individuals who have income for a source other than PAYE of up to €3,174. Note that below €3,174 you will not be obliged to pay PRSI (from 1 January 2016, the threshold is €5,000).
  • If your non-PAYE income is greater than €3,174 (€5,000 in 2016) then you need to register for Income tax and complete a Form 11 as a ‘chargeable person’
  • The Form 12 can also be used to claim tax credits such as ‘Medical Expenses’ not provided for on your tax credit certificate.

What you need to file a Form 12

  • PPS Number
  • P60 for the year 2015
  • Spouse’s P60 for the year 2015 (if applicable – married and jointly assessed)
  • Details of other Income e.g. deposit interest, rental income, foreign income etc.
  • Details of related expenses eg: rental expenses insurance, mortgage interest, repairs and maintenance, PRTB Fees, Letting Fees, etc.
  • Tax Credit Certificate or Details of Tax Credits to be claimed e.g. PAYE credit, personal credit, medical expenses, single parent family credit etc.
  • Relevant log in and pin number details if completing online version

When is the deadline?

Similar to Form 11, the deadline for Form 12 is the 31st October 2016 (for the year 2015).

Other Important Information

If you have any Capital Gains (CGT) or received Gifts or Inheritance (CAT) during the year, you will not be able to file this information through the eForm12. Separate tax forms will be required for returning this information.

The CGT and CAT details can, however, be filed on the paper Form 12.

Want to avoid all the hassle?

In many cases it is worthwhile getting professional advice to ensure you claim all of the available reliefs and credits. The burden of tax is heavy enough without paying above what you are obliged to pay.

What can Liam Burns and Co do for you?

As Chartered Tax Advisers and Chartered Certified Accountants, Liam Burns & Co will complete your Form 12 return online on your behalf.

We will check your tax credits, reliefs and income to ensure you are maximising reliefs available while remaining compliant.

Our fee for advice, completion and submission of a Form 12 is just €250 (excl VAT).

We also offer clients a free PAYE review of the previous 4 years and will claim any refund that may be available.

Simply, complete your details below and Liam Burns & Co will advise, prepare and file your Form 12 on your behalf.