What’s New in the 2022 Form 11 Tax Return?

Revenue update the tax return form every year for budgetary and operational reasons, and this year is no different. 

 

Here are 3 things to look out for this year:

 

 

If you are a landlord that is living abroad you will now need to confirm on your tax return whether you are using the new withholding system, or if collection agents are strictly enforcing the old system. 

 

1. you are using a collection agent, or 
2. the tax was withheld by the tenant. 

 

This question is mandatory and only one option can be selected.

 

Read more about the changes for non-resident landlords here 

 

 

 

As a response to the cost of living and housing crisis the government introduced a new Rent Tax Credit. This credit commenced in the 2022 tax year so you can claim this on your 2022 tax return.

 

A new section has been added to the tax form to enable claiming of the Rent Tax Credit.

 

In this section you will need to confirm that you are not in receipt of any government rent support and answer questions about the tenancy. 

 

You will be asked for your Residential Tenancies Board (RTB) number and the address of the property. 

 

Read more about the new Rent Tax Credit here 

 

 

 

You will see a new question in the Allowable Deductions incurred in Employment section to reflect situations where a Remote Working Relief claim may have been made in real-time, using the Receipts Tracker in myAccount. This is to prevent a double claim for this relief. You are asked you to confirm how much you may have already claimed for the Remote Working Relief via MyAccount.

 

In previous years, some people did not bother completing this section of the tax return as the saving may have been very small. However, with the increase in energy prices it may be time to consider filling it in. Remember if you have never claimed for remote working before it is possible to claim it for the prior year once you have the records to support it.

 

For 2022 you can claim 10% of your light & heat bills and 30% of your broadband bills (if you worked fully remote).

 

 

 

Your accountant should be aware of all the new elements to the Form 11 and be able to guide you through it when they are filing your 2022 Tax Return. At TaxAssist Accountants we have worked with thousands of individuals across Ireland on their tax returns. If you need assistance filing your income tax return you can call us on 045 249 000 or submit an enquiry online to book your free initial consultation.