Form 11

Form 11 Return of Income – Income Tax Return 

• Have you received a From 11 from the Revenue Commissioners?
• Did you become self employed in 2010 or receive non paye income ?

The Form 11 is a self-assessment Tax Return and is mandatory if you have income from sources other than PAYE, or are deemed a chargeable person.

Most PAYE employees will not have to complete a Form 11, but will need to do so if you earn more than €50,000 of gross non-PAYE income, or greater than €3,175 of net income in a tax year or are deemed a chargeable person.

You are also required to complete a tax return if you exercise share options, open a foreign bank account, invest in an offshore fund or realise capital gains – the extent of your income will decide if it is a Form 11 or Form 12 return.

Different income types assessable under Form 11 include:

• PAYE Income
• Rental Income
• Dividend Income
• Foreign incomes

Are you Self-Employed? Have you become or a Director?

If you are a ‘chargeable person’ (subject to self-assessment – typically self-employed or a Director or own more than 15% of a company), you will have to complete the Form 11.  This is the case even if your income is largely or wholly from PAYE sources.

Deadline to file and pay the Form 11?

The Deadline to file and pay for the Form 11 2010 is 31st of October 2011. However if you file and Pay and pay online you can avail of the extended deadline to Mid November 2011.  

Remember 

If you do have to complete a Form 11 this does not mean you owe money - in many cases you may be due a refund.

Preliminary Income Tax

If you are required to complete a Form 11, you may also need to make a preliminary tax payment. This is also due to be paid on or before the 31st of October.