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Rental income / PAYE worker which form?

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  • 09-11-2010 5:25pm
    #1
    zinfandel
    Registered Users Posts: 234 ✭✭


    My husband is a PAYE worker. I have a small investment property which I inherited last year and is shared with siblings. I put the rental income I received onto his Form 12 in the relevent section for rental income.


    We have now been told that he should have filed his returns on a Form 11 , pay and file for self employed and therby should have paid tax on the rental income before October.

    Have no idea how much I should pay and if I will now pay penalties.

    Is there a maximum amount that you can put on a Form 12, this new form is vary scary.

    ( I am not talking about a huge amount )


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    #2
    am i bovvered
    Registered Users Posts: 1,102 ✭✭✭am i bovvered


    I have always used a form 12 as a PAYE worker.
    Form 11 is for self employed.
    Have no idea how much I should pay and if I will now pay penalties.

    There is tons of info online to help with a simple DIY rental income return. (I do my own)
    If you are really worried contact an accountant, their fee is deductable as an expense


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    #3
    zinfandel
    Registered Users Posts: 234 ✭✭zinfandel


    am i bovvered wrote: »
    I have always used a form 12 as a PAYE worker.
    Form 11 is for self employed.



    There is tons of info online to help with a simple DIY rental income return. (I do my own)
    If you are really worried contact an accountant, their fee is deductable as an expense


    The section for rental income on both forms is the same, i have no problem working out the income/ expenses etc, but they say I should have paid up front before oct 31st, can work out the tax but not sure regarding any levies etc, was expecting they would have told me what I owed when they processed the Form 12, seems so stupid to fill in this form when I don't work and husband is PAYE.


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