I am an employee. In what circumstances would I be required to file a Form 11 in respect of 2017?
An individual who is a chargeable person is required to file a Form 11. Potentially every individual is a chargeable person, however, the legislation provides that the following persons will not be regarded as a chargeable person:
(a) Those with PAYE income only (e.g. an employee whose only source of income is from his or her employment)
(b) Those with PAYE income and income from non-PAYE sources (e.g. income from a trade or profession, rental income, deposit interest, dividends, etc.) where the total non-PAYE income assessable to income tax:
- Does not exceed €5,000, and
- Is taken into account in determining the individual's tax credits and SRCOP or is fully taxed at source (i.e. Deposit Interest which is subject to DIRT).
While the legislation exempts the above employees from the definition of a chargeable person, the exemptions do not apply to the following individuals (i.e. the following individuals are required to file a Form 11):
- Employees with assessable non-PAYE income (including income subject to DIRT) which exceeds €5,000,
- Employees with gross non-PAYE income (i.e. before allowable deductions) which exceeds €30,000,
- Proprietary directors of a company (i.e. those who own more than 15% of the ordinary share capital of the company) and their jointly assessed spouses or civil partners, unless it is a dormant company,
- Those who exercise share options,
- Those who qualify for tax relief under the Special Assignee Relief Program (SARP), or
- An employee who lives in the South but is employed in the Northern Ireland.