Form 12 Interest on tiny savings?

jelly&icecream · 27-10-2009 4:07pm #1

I've just been filling in form 12 to declare income under the rent a room scheme. (I know I've left it late!)

I was going to drop it by the tax office today but it just hit me that I got a small amount of interest on my savings account...not sure of the exact amount but certainly less than 150 euro. DIRT was taken from this at source.

Do I need to include the small amount of interest from my savings account in this form? My other income is well inside the bottom tax bracket so the interest I received shouldn't be eligible for a higher rate on this small amount of interest...

God I hate these things!

dbran · 27-10-2009 4:50pm

Yes

because there is PRSI and levies due on the interest. No PAYE due though.

Hope this helps

dbran

jelly&icecream · 27-10-2009 5:05pm

:eek: So I owe them money on this??

Managed to find the statement...
I earned a total of 54.46 interest and 10.89 DIRT was deducted at source to give me the rather fantastic total of 43.57 euro.

I've probably also earned a euro or something ridiculously small in interest on my current account as well in 2008...does that have to be included too?

Also does this go in in section 16 "Irish Deposit Interest"??

jelly&icecream · 27-10-2009 7:45pm

That means I actually have to pay the revenue money as well before the end of the month...even if it is 2 euro or something?? Can I just walk into the local revenue office and give them whatever is due and the form 12?

jelly&icecream · 28-10-2009 12:33pm

In case anyone finds themselves in a similar position I called into the tax office and asked in person. The guy found it quite funny that I was even asking and said it was all fine and I didn't need to include it. Once the DIRT was taken it was grand...phew!

Form 12 Interest on tiny savings?

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