I have received a Form 12 from the Revenue Commissioners and wonder what I should do next?

What is a Form 12?

The Form 12 is an annual Income Tax return for people whose primary sources of income are their PAYE income. If you are in receipt of any other income apart from your income earned as an employee you may have an obligation to declare this on a Form 12.

Why would I have been sent a Form 12?

  • You could have been chosen at random to complete a Form 12.
  • The Revenue may have obtained third party information regarding additional non- paye income such as payments from the Department of Agriculture.
  • You have had a gain subject to Capital Gains Tax during the year, an example would be property or shares sold.

What income types are assessable under a Form 12?

  • Income from a Trade or Profession – e.g. Farming Income.
  • Rental Income.
  • Dividend Income.
  • Foreign incomes – Foreign Pensions, Foreign Rental Income.

When should I complete and return my Form 12?

Typically, you will need to complete your Form 12 by October 31st in the year following the tax year of assessment. i.e. For 2012 taxes, the Form 12 must be submitted by 31st October 2013.

What Should I do now?

If you have received a Form 12 do not ignore it. You must complete the form honestly ensuring that you declare your income from all sources. In some circumstances it may be beneficial to seek professional advice.

WWW.THETAXCLINIC.IE was founded in February 2010 by Michael Coll & Mabel McHugh. Since then Michael & Mabel have secured vast Tax Refunds for many satisfied customers and are looking forward to many more years of sustained growth.

The Tax Clinic is the only business in the Northwest that specialises in offering services to P.A.Y.E workers. Mabel says that “while working for over 20 years in the financial services sector she noted that there was no professional representation for P.A.Y.E workers”.  With this in mind Mabel together with Michael, who are both members of The Irish Taxation Institute set up www.thetaxclinic.ie and have gained a huge reputation in this complex area of taxation.

Mabel works in The Tax Clinic in Main Street Killybegs, while Michael now works in their new premises on the High Road Letterkenny along with The Tax Clinics third partner Noel O’ Donnell who has also located Noel O’ Donnell & Co Chartered Accountants in the same building.

Other Services:

We also offer a cost effective payroll outsourcing service. We can also look after your P.A.Y.E and V.A.T compliance and obligations.

To find out more log onto www.thetaxclinic.ie or call into either the High Road Letterkenny or Main Street Killybegs”