Form 11 Tax Returns

Who needs to complete Form 11?

The Form 11 is a self-assessment Tax Return and is mandatory If you have significant 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

Self-Employed or Director?

If you are a 'chargeable person' (ubject 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.

When to complete a Form 11?

Typically, you will need to complete your Form 11 by October 31st in the year following the tax year up for assessment.  ie. for 2008 taxes, submit by 31st October 2009.  This is extended for electronic filing to mid-november.

Top Tax Tips

Needing to complete a form 11 does not mean you owe money - in many cases you will be due a refund. If you are required to complete a form 11, you may also need to make a preliminary tax payment.

For more information

• Contact Us
• Read the Red Oak Tax Refund Blog