Tax Magic Para 2.36.

Legislation: TCA 1997 s 97(2I).

Revenue notes: Entitlement to a deduction for interest paid on borrowed money employed in the purchase, improvement or repair of rented residential premises is conditional on compliance with the registration requirements of the Residential Tenancies Act 2004 in respect of all tenancies, which existed in relation to residential premises in the year 2024.

All queries relating to the registration requirements / process should be directed to the Residential Tenancies Board - see www.rtb.ie for contact details.

This includes income receivable from rents, premiums, easements and income from advertising hoardings. [Income from foreign property should be shown at Lines 315(a) -(g)].

Do not include any amounts proper to Line 416(a) in this panel unless you are electing to have income from the letting of a room (or rooms) in your sole or main residence as residential accommodation to be treated as rental income.

You must have a separate computation of the surplus or deficiency in respect of each separate rent and the total receipts from easements. You can calculate the surplus or deficiency in the manner below for each lease, rental or easement to which you are entitled. The figure that is arrived at and transferred to this section of the Return is the total of all surpluses as reduced by the total of all deficiencies.

However, any surplus or deficiency from an uneconomic letting, excluded by TCA 1997 s 75(4) must be ignored. Also, one spouse or civil partner may not offset their deficiency against the other spouse's or civil partner's surplus.

The computation of the surplus (or deficiency) in respect of each rent, i.e. of the rent arising from each separate lease or tenancy agreement, is made by taking the full amount of rent receivable in 2024 and by deducting the outgoings in respect of that rent to the extent authorised by TCA 1997 s 97(2).

To assist you in completing the entries in this section of the Return, a sample template follows.

Sample template of taxable rental income

*For previous years there was a cap on the amount of interest that could be deducted. For 2024 100% of interest can be deducted.

Unused 'section 23' relief

Unused 'Section 23' relief is not claimed as 'Section 23' relief but as an unused loss from a prior year. Enter at Line 215.

Example

Qualifying property let 2023 ('Section 23' relief of €150,000 due)

'Section 23' relief clawback

A property which is granted 'Section 23 Relief' should be let for a period of ten years from the date of the first letting under a qualifying lease. If the property is sold, ceases to be let, or otherwise ceases to qualify within the ten-year period, there will be a claw-back of the relief granted.

Where a property on which 'Section 23' relief has been claimed, was sold or ceases to qualify during 2024 and this is within the ten-year period, the clawback will be equal to an amount expressed by the formula–

A - B

where

A is the amount of relief originally given on the property, and

B is the amount of any unused relief in respect of that property which has been carried forward under TCA 1997 s 384 into 2024.

The amount of the clawback should be included as 'gross rent receivable' at Line 204 on the return.

(a) -(b) TCA 1997 s 97(2).

(d) TCA 1997 s 97A (letting to local authority).

Capital allowances in accordance with TCA 1997 s 305(1)(a).

Tax Checklists: Deductible rental expenses: p 43.

Capital allowances attributable to a rental property to be allowed in 2024 take priority over relief for unused rental losses being brought forward from earlier years of assessment.

Where you are claiming relief under a property based incentive scheme at Line 205(c) you must insert X in the box at Line 201 and give details in Panel N of the return.

Where 2024 is the first year the relief is due (i.e., it is the first year the 'section 23' property was let under a qualifying lease) enter the relief under 'Expenses' where it asks -'section 23' type relief where 2024 is the first year of claim, [205(c)].

This relief is available for individual landlords of rented residential premises for the tax years 2024 - 2027 and applies to Income Tax only.

The maximum relief available for 2024 is the lower of €600 or your tax liability on rental income from residential premises after capital allowances and losses carried forward.

To qualify for this relief, on the 31 December of the year in respect of which the relief is being claimed, you must:

• own the qualifying residential premises,
• hold a valid Tax Clearance Certificate, and
• be Local Property Tax (LPT) compliant.

The qualifying premises must, on that date, be:

• rented under a tenancy registered with the Residential Tenancies Board (RTB),
• rented to a tenant and be a formerly rent controlled premises not required to be RTB registered,
• rented to a local authority, or
• actively marketed for rent

Where the relief is claimed and the qualifying conditions are not met or the premises is disposed of within 4 years of the first year in which relief is claimed, the relief will be clawed back.

If you hold a share of a qualifying premises, you are also eligible to claim the relief, and this will be apportioned based on the percentage of rent that you are entitled to. If you also own 100% of another qualifying premises, the relief will be available to you based on this premises and will not be restricted.

If you own more than one residential premises, you can only claim a single tax relief.

Please note that you can not claim this relief if any of the qualifying premises are rented to a connected person such as a family member or relative.

The relief is available for landlords of rented residential premises for a maximum of two premises and allows for the deduction of certain expenses incurred on retrofitting such premises when calculating the rental profits.

The qualifying retrofitting works must be carried out between 1 January 2023 and 31 December 2025 with the deduction for retrofitting works taking place in one year being available to claim against your rental income
in the following year (i.e., retrofitting works carried out in 2023 can be claimed as a deduction against rental income for 2024).

The deduction for retrofitting of rental properties operates in the same manner as other rental income deductions by reducing the gross amount of rental income received and chargeable to Income Tax, Universal Social Charge (USC) and Pay Related Social Insurance (PRSI).

The deduction that can be claimed in one year is the lesser of: €10,000 or the amount incurred on the retrofitting works (i.e., the cost of retrofitting the premises minus the amount of grant received from the Sustainable Energy Authority of Ireland (SEAI)).

The relief can also be claimed when a rented residential premises is jointly owned and in this case it is apportioned based on the portion of rent that the claiming landlord is receiving.

The relief is only available if:

• You have received an approved retrofitting grant from the Sustainable Energy Authority of Ireland (SEAI)
• You are compliant with your Local Property Tax (LPT) obligations in respect of the premises, and
• You have a valid Tax Clearance Certificate

A qualifying premises for the purpose of claiming the Retrofitting Rental Properties Relief (RRPR) is a premises that:

• is situated in the State,
• is owned by the claimant,
• continues to be let to a residential tenant throughout the period in which the qualifying works carried out and
• is occupied by the tenant and the tenancy is registered with the Residential Tenancies Board (RTB) or is a former rent controlled property which is exempt from the requirement to register with the RTB.

The relief will be clawed back if within two years of completing the retrofit:

• you breach your obligations under the Residential Tenancies Act 2004,
• you sell or transfer the property,
• You change the use of the property so that it is no longer occupied by a residential tenant or you start renting it as a short-term letting
• the tenant terminates their tenancy, or
• You terminate the tenancy due to the tenant being in breach of their obligations under the lease - in this case, provided that you let the property again or that you are actively and genuinely marketing the property for rent at market rates of rent, no clawback will arise.

Please note that you can not claim this relief if any of the qualifying premises are rented to a connected person such as a family member or relative.

(c) TCA 1997 s 664.

Tax Checklists: Farm land leasing: p29.

Fixtures and fittings can qualify for plant and machinery capital allowances. If these capital allowances exceed the rental income, the unused portion can only be brought forward and set off against rental income arising in future years.

(a) TCA 1997 Sch 25B. As provided for in TCA 1997 s 409F-409H, passive investors should not include any excess accelerated capital allowances carried forward beyond 2014 or the tax life of the building or structure, if later.

(a) (ii) (I) as defined in TCA 1997 s 531AAE.

(b) (i) -(ii) TCA 1997 Sch 25B.

(b) (ii) (I) as defined in TCA 1997 s 531AAE.

(b) (ii) (II) TCA 1997 s 372AAC.

(b) ((ii) (III) TCA 1997 s 372AAD Residential property.

(b) (ii) (IV) TCA 1997 s 268(1) (n)) accelerated capital allowances provided for under TCA 1997 s 273(3) (k) (i).

(c) TCA 1997 s 664.

Tax Magic: Para 2.43.

Living City Initiative is a scheme of property tax incentives designed to regenerate both historic buildings and other buildings in specified cities.

The scheme applies to certain 'special regeneration areas' (SRAs) in the centres of Dublin, Cork, Limerick, Galway, Waterford and Kilkenny.

These areas have been designated for the purposes of the scheme by Order of the Minister for Finance. The maps and boundaries of these SRAs can be found on the websites of the respective local authorities.

In general, capital allowances are available on the cost of construction / refurbishment of industrial buildings within the meaning of TCA 1997 s 268 and in respect of the cost of construction / refurbishment of industrial and commercial buildings in designated areas.

If you wish to elect under TCA 1997 s 305(1) (b), to offset any excess of current year capital allowances in respect of qualifying buildings, enter the appropriate amount(s) at Line 214(a) and/or Line 214(b).

Certain capital allowances are not available for offset against other income, i.e. they are 'ring fenced' so that relief can only be given against rental income from that property and other Irish rental income.

Where you wish to elect to have excess current year capital allowances in respect of buildings offset against other income enter the amount in the appropriate box and note that:

• TCA 1997 s 409A restricts the capital allowances available for offset against other income to €31,750, [214(a) ],

• The €31,750 ceiling does not apply to certain properties, such as investments made by individuals including a passive investor in three star or better hotels in the counties of Cavan, Donegal, Leitrim, Mayo, Monaghan, Roscommon and Sligo, other than in seaside resorts of those counties, [214(b)].

Termination of carry forward of certain unused capital allowances for passive investors (TCA 1997 s 409F-409H).

This applies to the various accelerated property and area-based capital allowance schemes for persons who are not actively engaged in their respective trades.

With effect from 1 January 2015 any unused accelerated capital allowances which are carried forward beyond the tax life of the building or structure to which they relate are immediately lost. This essentially means that if the tax life has ended at any time up to the end of 2014, then the unused allowances are lost in 2015. Where the tax life is due to end later than 2014, then the allowances are lost going into the following year.

Carried forward losses: TCA 1997 s 382.

(a) Specified property relief: TCA 1997 s 531AAE.

Tax Magic Para 2.37.

TCA 1997 s 1034.

If you or your spouse or civil partner are a non-resident landlord and rent is paid directly to your or your spouse's or civil partner's bank account (either in Ireland or abroad), your tenant(s) should have deducted tax at the standard rate of tax (currently 20%) from the gross rents payable.

To claim a credit for this tax, you must obtain a form R185 from the tenant; this form confirms that the tenant has deducted the tax and forwarded it to Revenue. Enter the required information at Lines 216(a) and 216(b).

Do not submit the form R185 with the return but you must retain it for a period of six years, in case evidence of tax deducted is required in the course of an audit or verification check.

Note: You can only claim a credit for tax actually deducted and for which you have a completed form R185 from the tenant.

Tax Magic: Benefit in kind (BIK): 2.24; Employed v self-employed: 2.28; Termination payments: para 2.22.

Tax Checklists: Benefit in kind (BIK) : p13; Employed v self-employed: p24; Termination payments: p48.

Pensions, etc. income from foreign offices or employments attributable to the duties of those offices and employments exercised in Ireland [217 - 246]

Note: If you and/or your spouse or civil partner have / has more than two employments/pensions, etc., insert X in the box.

Complete this section for each employment and/or pension. If there is more than one employment / pension, two or more columns must be completed.

If the details are the same for two or more employments (for example the salary and pension is paid by the same company or individual) you should record each of these employments separately.

Details entered at Lines 220 to 222 are relevant to Lines 223 to 232 civil partner civil partner

Please insert X in the relevant box(es) to show the source(s) of income.

Foreign employments [223(c)]

This source refers to income (including any amount in the form of expenses payments received or benefits-in-kind derived) from foreign employment(s) in so far as that income relates to the performance in Ireland of duties of the employment. Such income is chargeable to tax under Schedule E on the full amount arising and subject to deduction of tax under PAYE.

If the duties of the employment are performed partially in Ireland and partially outside Ireland the gross income should be apportioned accordingly. Only enter income attributable to the performance in Ireland of such employment at Line 220 as applicable. Income attributable to the performance outside Ireland should be entered at Line 308.

Public sector employees – Class B, C or D PRSI [223(e)]

This section refers to the salaries of public sector employees, e.g. civil servants, nurses, teachers, etc. where PRSI was paid under Class B, C or D. Salaries of other public sector employees (other than certain Public Sector employments, see Line 221(e)) should be entered at Line 223(a).

Certain public sector employments [223(f)]

This section refers to Members of the Judiciary and Members of the Oireachtas. Salaries of public sector employees, e.g. civil servants, nurses, teachers, etc. where PRSI was paid under Class B, C or D should be entered at Line 221(e) . Salaries of all other public sector employees should be entered at Line 223(a).

Income in lieu of social welfare payments [223(g)]

Examples include community employment scheme, back to education initiative (BTEI) payments, vocational training opportunities scheme (VTOS), Farm Retirement Pensions, Jobbridge, etc.

Pension RAC or PRSA [223(j)]

For income tax purposes annuities payable under an RAC or a PRSA are treated in the same manner as a pension and chargeable to tax under Schedule E (PAYE is operated on these annuities). Other annuities, such as Purchased Life Annuities are chargeable to tax under Schedule D; these annuities should be entered at either Line 402 or 408, depending on whether tax was deducted at source from the payment.

RAC / PRSAs are excepted emoluments and are not chargeable to PRSI in their own right and are viewed by the Department of Employment Affairs and Social Protection as payments received by way of pension.

Distributions from ARFs and PRSAs [223(k) to (l)]

These sources refer to distributions (including deemed, or imputed, distributions) from ARFs, AMRFs and vested PRSAs. They do not refer to pensions or annuities.

All distributions from these funds are chargeable to income tax under Schedule E and the provisions of Chapter 4 of Part 42 apply. Tax should be deducted by the PRSA administrator in the case of a vested PRSA, the qualifying fund manager in the case of an ARF, or a nominee, if you have appointed one, in the case of deemed distributions from an ARF or vested PRSA. You should receive a statement showing the amount received, or deemed to have been received, from the fund or funds in the year and any tax paid.

This income is liable at the marginal (highest) rate in the same manner as other PAYE income.

The universal social charge is payable at the relevant rate and should be applied at the time of payment.

The employee tax credit is granted against this income.

As set out in Tax and Duty Manual Part 38-01-04G, proprietary directors, in accordance with Sections 112 and 997 of the Taxes Consolidation Act, should include the amount of credit for income tax and USC deducted from the bonuses / fees, against the amount of tax chargeable in the assessment.

This amount may differ from any tax or USC amounts pre-populated from payroll data.

The credit taken in the 2024 Form 11 for tax and USC must be a true estimate of the actual taxes deducted from the bonus / fee. The amount of tax credited must not exceed 40% of the taxable income and the amount of USC credited must not exceed 8% of the taxable income. Details of such calculations must be available if requested by Revenue. There may be situations where a proprietary director has received a partial / full refund of tax and USC on the bonus / fee payment in the current year 2025. Any amounts refunded will reduce the amount of credit available to the taxpayer for inclusion in the 2024 Form 11.

Employment and pension income that is subject to PAYE must be entered twice in this return. The amount that is liable to income tax is returned at lines 225 as appropriate and the amount liable to USC is entered at Line 225.

TCA 1997 s 531AAD.

TCA 1997 s 480B.

Section 14 of Finance Act 2019 introduced a new section – Section 480B - into the Taxes Consolidation Act (TCA) 1997 that applies for the tax year 2019 and subsequent years. Section 480B provides for an increase in rate bands and certain tax credits where a PAYE taxpayer, who is assessed to income tax on the receipts basis (Section 112(3) TCA 1997), is paid an extra week's pay in the year, i.e. a 'Week 53' scenario. Further information is available at TDM 42-04-07.

TCA 1997 s 825C.

Tax Checklists: Special assignee relief programme: p46.

This section provides for income tax relief to an employee who is assigned by his or her relevant employer to work in Ireland for that employer or for an associated company in Ireland of that relevant employer. An employee arriving in Ireland in 2012, 2013 or 2014 must have worked for the relevant employer, for a minimum period of 12 months prior to arrival in Ireland. A relevant employer is a company that is incorporated and tax resident in a country with which Ireland has a double taxation agreement or a tax information exchange agreement. For an employee who arrives in the years 2015 to 2024, the 12 month minimum period is reduced to six months. Where certain conditions are satisfied, an employee can make a claim to have a proportion of his or her earnings from the employment with the relevant employer or with an associated company disregarded for income tax purposes.

SARP provides for relief from income tax, for the years 2012, 2013 and 2014, on 30% of the employee's income between €75,000 (lower threshold) and €500,000 (upper threshold). For 2015 to 2018 the proportion is 30% of an employee's income over €75,000 with no upper threshold. For 2019 (for new entrants only) and 2020 onwards (for all claimants), an upper threshold was re-introduced of €1,000,000. For 2023 onwards, assignees who arrive here on or after 1 January 2023, the lower threshold of €75,000 was increased to €100,000.

The relief can be claimed for a period of five consecutive tax years, by an individual who is a relevant employee and meets all of the following conditions:

(a) arrives in Ireland in any of the tax years 2012 to 2025, at the request of his or her relevant employer to perform in Ireland, duties of his or her employment for that employer or to take up employment in Ireland with an associated company of that relevant employer and to perform duties in Ireland for that company;

(b) immediately before being assigned to work in Ireland, worked outside Ireland for a minimum period of 6 months (12 months for employees who were assigned in 2012, 2013 or 2014) for the relevant employer (i.e. a company located in a country with which Ireland has a Double Taxation Agreement or tax information exchange agreement) who assigned him or her to work in Ireland;

(c) performs duties referred to in (a) above for a minimum period of 12 consecutive months in Ireland from the date he or she

(I) takes up residence in the State (position for tax years 2012, 2013 and 2014); or

(II) first performs those duties in the State (position for tax years 2015 to 2025).

(d) an employee that first arrived in the State on or after 1 January 2023, must hold a Personal Public Service Number ("PPSN");

(e) was not tax resident in Ireland for the 5 tax years immediately preceding the year of his or her arrival in Ireland to take up employment here;

(f) the employer certifies, within 90 days of the employee's arrival in the State by completing a Form SARP 1A, that:

(I) the employee complies with conditions (a) to (d), and

(II) the employer must also confirm that it has complied with the PAYE commencement obligations as required under Regulation 17(2) of the Income Tax (Employments) Regulations 2018.

(g) for all tax years for which the relief is claimed, is tax resident in Ireland.
For each of the tax years 2012, 2013, and 2014, an individual must be tax resident in Ireland and not also tax resident elsewhere.

(h) earns a minimum basic salary of €75,000 per annum excluding all bonuses, commissions or other similar payments, benefits, or share based remuneration or €100,000 for assignees who arrive here on or after 1 January 2023.

Further information is available at TDM 34-00-10

(a) TCA 1997 s 472D, 766(2A)(a).

(b) Under TCA 1997 s 472D(4).

This relief allows key employees engaged in research and development ('R&D') activities avail of the R&D tax credit to which their employer company is entitled and which it surrendered in favour of such key employees.

Where the R&D tax credit is to be used by key employees, the key employees can use it only as a credit against income tax charged on their income from the employment with that employer.

A key employee cannot avail of this credit if the effective rate of income tax on their income (including the income of their spouse or civil partner) for the tax year of claim is less than 23%. However, where, before claiming the credit, the employees effective rate of income tax is more than 23%, they can claim the credit to the extent that it reduces the effective rate of tax on their total income to not less than 23%.

Tax Checklists: Benefit in kind (BIK): p13.

Irish employment income which has not been taxed under the PAYE system should be entered at Line 236(a).

A salary from which no PAYE tax was deducted only because of the level of income should be entered at Line 222.

Give details of any sum (not returned elsewhere on the Return) received by you, or by anyone connected with you, in the year 2024 from an employer as a result of:

• the commencement of an office or employment,
• the termination of an office or employment,
• any change in its functions or emoluments,
• the commutation of annual or periodic payments,
• consideration for entering into restrictive covenants,
• any other matter related to an office or employment.

Where an employee / director fails to make good to the employer the whole or part of a shortfall in PAYE deductions that the employer has paid in respect of a taxable benefit, the employee / director is treated as receiving a taxable benefit for the following tax year, equal to the amount not made good. That benefit is treated as arising on 31 March of the following year.

Where the tax is reimbursed by the employee / director to the employer by 31 March, a taxable benefit will not be regarded as arising to the employee / director.

Where the employee / director ceases employment before the relevant 31 March, the amount of the tax not made good to the employer should be returned, [236(b)].

TCA 1997 s 18 (Sch D Case III).

TCA 1997 s 113.

Tax Checklists: Country money: p18; Employee subsistence: p25; Employee travel: p26.

Tax Magic Para 2.25.

Depending on the nature of your employment you may be entitled to expenses against your income.

Flat rate expenses

'Flat rate' expenses are approved by Revenue in relation to certain employments / occupations. A full list can be found here. If you qualify for flat rate expenses confirm the nature of your employment: [240(a)].

Where a flat rate expense does not apply, a claim in respect of un-reimbursed expenses incurred wholly, exclusively and necessarily in the performance of the duties of an office / employment may be made. [240(b) (ii)].

If expenses of using your car are necessarily incurred in carrying out the duties of your office or employment, you may be entitled to claim an allowance for wear and tear of the car (in addition to the running expenses) which should be given under 'Expenses', Line 240(b) (ii).

Note: Expenditure incurred travelling to / from work cannot be claimed.

The wear and tear allowance must be restricted for cars costing more than the relevant car cost limits, [240(c)].

Remote Working Relief [240(b) (iii) and (iv)]

(iii) A line has been added to enable claims for expenses due in respect of remote working. The allowable amount should be entered in the form.

For 2023 and subsequent years you can claim 30% of the cost of electricity, heat and broadband (apportioned based on the number of days worked from home over the year).

(iv) This line is to show Remote Working Relief already claimed through Real Time Credits in 2024.

If you are a remote worker, your employer may pay you up to €3.20 per day without deducting income
tax, PRSI or USC. If you claim Remote Working Relief, any payment by your employer for remote working expenses must be deducted from your claim. Detailed guidance about the conditions to qualify, the calculation of the relief, the requirement to retain all relevant documentation relating to a claim, etc. is set out in the Tax and Duty Manual on eWorking and Tax.

Please ensure you only claim for amounts for which you hold receipts.

You need not send the receipts to Revenue with your claim. However, you must keep the receipts as you may be asked to send them to Revenue if your claim is chosen for examination.

TCA 1997 s 774.

Tax Magic Para 2.23.

Superannuation contributions (including AVCs) should be shown only if they have not already been deducted in arriving at the figure for earnings shown in the Return, i.e. enter only if a net pay arrangement did not apply to these contributions.

Pensions manual Ch 3.

TCA 1997 s 823A.

Tax Checklists: Foreign earnings deduction: p30.

Tax Magic Para 2.51.

Relief from taxation may be claimed on a proportion of income earned by individuals who are resident in Ireland but who spend significant amounts of time working in a relevant state. The relief applies for the years of assessment 2012 to 2024 and does not apply to Universal social charge or PRSI.

Relevant state means Brazil, China, India, Russia and South Africa;

And with effect from 1 January 2013: Algeria, Democratic Republic of Congo, Egypt, Ghana, Kenya, Nigeria, Senegal and Tanzania.

With effect from 1 January 2015: Bahrain, Chile, Indonesia, Japan, Kuwait, Malaysia, Mexico, Oman, Qatar, Republic of Korea, Saudi Arabia, Singapore, Thailand, United Arab Emirates and Vietnam.

With effect from 1 January 2018: Colombia and Pakistan.

The relief is granted on foot of a claim from a taxpayer who is resident in Ireland by providing a proportional tax deduction (the specified amount) based on the number of qualifying days worked in the relevant states.

An individual is required to spend a minimum of 30 qualifying days in a relevant state(s) in a continuous 12 month period. The maximum that can be deducted in any tax year is €35,000.

For more information see Revenue.

In general, income from the Department of Employment Affairs and Social Protection is taxable.

Social Welfare pensions include a basic amount plus an increase where the claimant has an adult dependent. Enter the total amount (i.e. basic amount plus adult dependent increase).

Enter the gross amount of carer's allowance received from the Department of Employment Affairs and Social Protection, [239].

The first €13 per week of jobseekers benefit is exempt from tax and should not be included, [244 & 245].

The child benefit elements of illness benefit and jobseekers benefit are exempt from tax and should not be included, [244 & 245].

TCA 1997 s 126.

Back to work allowance and unemployment assistance are all exempt from income tax and should not be entered in the return.

The child benefit elements of illness benefit and jobseekers benefit are exempt from tax and should not be included, [244 & 245].

In the 'Self' column where your spouse or civil partner is the dependent for social welfare purposes. In this case you are due the employee tax credit, [245].

In the 'spouse or civil partner' column where you are the dependent for social welfare purposes. In this case your spouse or civil partner is due the employee tax credit [245].

Enter the gross amount of any other type(s) of payment(s) received, e.g. state pension, widow's, widower's or surviving civil partner's pension, deserted wife's benefit or one-parent family payment. [245].

TCA 1997 s 790AA.

TCA 1997 s 790AA provides for the taxation of retirement lump sums paid above a tax-free amount under various pension arrangements.

As and from 1 January 2011, the maximum lifetime tax-free limit on retirement lump sums paid to an individual on or after 7 December 2005 is €200,000. Where a lump sum (or lump sums) is paid to an individual on or after 1 January 2011 the amount in excess of this tax-free limit (the 'excess lump sum') is subject to tax in two stages.

• The first portion of the excess lump sum (i.e. the portion between €200,000 and €500,000) is chargeable to tax under Schedule D Case IV (TCA 1997 s 790AA(3) (a) (i) or (3) (b) (i) (I)) at the standard rate of income tax in force when the lump sum is paid, currently 20%. As this portion is effectively 'ring-fenced', no reliefs, allowances or deductions may be set or made against it when computing the amount of tax to be deducted.

• The second portion, if any, of the excess lump sum (i.e. the portion over €500,000) is regarded as profits or gains arising from an office or employment and is charged to tax under the Schedule E basis of assessment at the individual's marginal rate.

An individual who receives a lump sum from a qualifying overseas pension plan must pay tax on the entire excess lump sum under Schedule D Case IV at the rate, or rates of income tax that would apply if the lump sum was received from a pension plan other than a qualifying overseas pension plan.

TCA 1997 s 128C.

TCA 1997 s 128C sets out specific rules for the tax treatment of convertible securities acquired by directors and employees by reason of their office or employment on or after 31 January 2008. Chargeable events include:

• The conversion of securities into securities of another description,
• the release of the entitlement to convert for consideration,
• the disposal for consideration of the securities by the employee or director (or by any other person who acquired the securities by reason of the employee's or director's office or employment),
• the receipt of a benefit in money or money's worth by the employee or director (or any other person who acquired the securities by reason of the employee's or director's office or employment) in connection with the entitlement to convert (for example, the receipt of compensation for the loss of the entitlement).

TCA 1997 s 128A(4A).

If you, your spouse or civil partner elected on or before 1 June 2003 to make a 'payment on account' and made a 'payment on account' under TCA 1997 s 128A(4A) against the income tax due on share options and have now disposed of any shares, state the balance of tax remaining on the share option(s) to which the election under TCA 1997 s 128A(4A) was made and the aggregate of the net gain arising on the disposal of shares in 2024.

Do not include losses in the aggregate net gain.

Note that the disposal of any of the shares entered in this section may also give rise to a charge to capital gains tax. you should include details of any such disposals in panel l (Capital Gains) of the Return.

A proprietary director is the company's beneficial owner or director who can control directly / indirectly more than 15% of company's ordinary share capital. Enter each company's tax number and the percentage shareholding in

each company if you, your spouse or civil partner held proprietary directorships in the year 2024.

In general, individuals who are resident in Ireland are taxable on their worldwide income. Where an individual is resident but not domiciled in Ireland they are assessable on Irish income including income attributable to the performance of the duties of a foreign employment in Ireland and remittances of other foreign income, that is, a transfer of money into Ireland made out of this other foreign income.

Where applicable, remittances should be returned in Lines 302(a) & (b), 308, 310 - 312, 314(a), 315(d), 317 & 318(a).

The question as to whether you are entitled to a credit / deduction for any foreign tax deducted, or whether the foreign tax should be refunded by the foreign State, depends on whether Ireland has a Double Taxation Agreement with the foreign state, and upon the terms of that agreement.

A list of countries with which Ireland currently has a Double Taxation Agreement is available here.

Enter net dividends, not subject to Irish tax on encashment, received from Great Britain and Northern Ireland including details of any scrip dividends received.

TCA 1997 s 18.

Revenue notes

Enter the gross amount of pension(s) received in the box provided. If foreign tax was correctly deducted from the pension, i.e. you are not entitled to a full or partial refund of this tax from the foreign state under the terms of any double taxation agreement between Ireland and that State, forward details of the amount of the foreign tax deducted to your Revenue office. This situation might occur in the case of Canadian and Swedish pensions.

Note: UK state pension, incapacity benefit or pensions arising in the UK or Northern Ireland

Irish resident individuals may claim relief at source or repayment of tax from the UK authorities in respect of UK state pension, incapacity benefit or pensions arising in the UK.

The claim for a repayment of UK tax should be made on a Form IRL/ individual and submitted to the UK authorities. Revenue tax the gross amount and no credit for UK tax deducted is due from Revenue on the basis that such tax is refundable by the UK authorities.

TCA 1997 s 898S repealed the EU Savings Directive legislation from 1/1/2016.

The EU Savings Directive ensures that individuals resident in an EU Member State who receive interest income from another Member State are taxed in the Member State in which they are resident for tax purposes.

Interest paid / credited on or after 1 July 2006 is either (1) reportable by paying agents in the EU to the tax authorities in the paying agents home territory or (2) subject to withholding tax in those territories which have opted to apply withholding tax rather than report the payment.

An individual who has suffered withholding tax on EU interest payments in 2024, may claim a credit for the tax withheld by completing Line 304.

A statement* from the paying agent must support the claim and include the following information:

• The name and address of the paying agent
• The name and address of the account holder
• The date of the interest payment
• The amount of the interest payment
• The amount of the tax deducted.

* Do not submit statement with the return but you must retain it for a period of six years, in case evidence of tax deducted is required in the course of an audit or verification check.

Enter the gross amount of EU Deposit income received at Line 304(a).

Non-EU deposit interest should be included at Line 317. Any Savings Directive withholding tax deducted should be entered at Line 304(b). Any foreign tax other than that entered at Line 304(b) should be entered at Line 304(c).

TCA 1997 s 898S repealed the EU savings Directive legislation from 1/1/2016.

Enter the gross amount of EU interest 'other' than EU Deposit Interest at Line 306(a).

Any savings directive withholding tax should be entered at Line 306(b).

Any foreign tax other than that entered at Line 306(b) should be entered at Line 306(c).

Enter the gross amount of the income received from foreign employments attributable to the performance outside Ireland of such employments on which transborder relief is not claimed.

If foreign tax was correctly deducted from the employment income, i.e. you are not entitled to a full or partial refund of this tax from the foreign state under the terms of any double taxation agreement between that State, enter the amount of the foreign tax deducted in the box(es) provided.

If the duties of the employment are performed partially in Ireland and partially outside Ireland the gross income should be apportioned accordingly. Only enter income attributable to the performance outside Ireland of such employment at Line 308. Income attributable to the performance in Ireland should be entered at Line 222.

TCA 1997 s 825A.

Tax Checklists: Transborder relief: p50.

Transborder relief is designed to give income tax relief to individuals who are resident in Ireland but who commute daily or weekly to their place of work abroad and who pay tax in the other country on the income from that employment.

Subject to meeting certain conditions an individual can have their income tax liability reduced to what is known as the specified amount, see below. In simple terms, the effect of this relieving measure is that Irish tax will only arise where the individual has other income separate to the income from the foreign employment (qualifying employment) and will ensure that they will not pay any additional tax on employment income which is taxed abroad.

To qualify for the relief the income must not have benefited from 'split year treatment', the remittance basis of assessment or have been paid by a company to one of its proprietary directors or to the spouse or civil partner of one of its proprietary directors and each of the following conditions must apply:

(a) The duties of the employment must be exercised wholly in a country with which Ireland has a Double Taxation Agreement. In determining whether the duties of a qualifying employment are performed wholly in the other country, any duties performed in Ireland which are merely incidental to the performance of the duties abroad will be regarded as having been performed in the other country. Normally any number of days up to a maximum of 30 in a tax year will be regarded as incidental days,

(b) The office or employment must be held for a continuous period of at least 13 weeks in the tax year.

The specified amount (i.e., the tax due after relief has been granted) is arrived at as follows:

(a) Calculate the income tax which would be payable for a tax year under normal rules, excluding credit for any foreign tax paid, and

(b) Reduce this amount in the proportion which your total income (excluding the income from the qualifying employment) bears to total income (including the income from the foreign employment).

This can best be expressed by way of the following formula:

Specified income

Transborder relief due =

Total Irish liability under Irish rules excluding credit for any foreign tax paid

minus

Total Irish liability under Irish rules x Income other than foreign employment income

Total income

Where there is other foreign income (in addition to the Foreign Employment Income) and the other foreign income has a foreign tax credit attaching, this foreign tax credit is also ignored in the above computation. Enter the amount of the salary on which you are claiming Transborder Relief.

Enter the gross amount of dividends received from the US. Enter the amount of Irish tax deducted, if any, on encashment of these dividends at Line 319.

(Enter the amount of Irish tax deducted, if any, on encashment of these dividends at Line 319)

Enter gross amount of dividends received from Canada. Enter the amount of Irish tax deducted, if any, on encashment of these dividends at Line 319.

Only income from trades / professions which are entirely carried on, managed, controlled and overseen abroad should be entered here. Other income from trades / professions should be entered at Panel B. If no foreign tax was deducted, or, if deducted is refundable by the foreign jurisdiction the income should be returned in Line 313.

Where foreign tax was correctly deducted and withheld by the foreign jurisdiction, Line 314 should be completed.

Tax Magic Para 2.35.

The number of foreign properties let should be entered at Line 315(a).

Enter gross amount of foreign rental income receivable at Line 315(b) and expenses at Line 315(c).

Net profit on foreign rental property should be entered at Line 315(d).

Capital allowances, including capital allowances forward should be entered at Line 315(e).

Amount of unused losses from a prior year should be entered at Line 315(f).

Amount of foreign tax deducted, if any, should be entered at Line 315(g).

All UK Income, excluding that which is asked for separately on the Return (at Lines 301 - 303, Line 305, Lines 308 - 309 and Lines 313 - 315 should be declared here.

All foreign income, excluding that which is asked for separately on the Return (at Lines 301 - 316 and Lines 320 -322) should be entered in either Line 317 or 318.

Include details of any scrip dividends received from non-resident companies.

If no foreign tax was deducted, or, if deducted is refundable by the foreign jurisdiction the income should be returned in Line 317.

Where foreign tax was correctly deducted and withheld by the foreign jurisdiction, Line 318 should be completed.

Note: UK purchased annuities, interest or royalties arising in the UK or Northern Ireland Irish resident individuals may claim relief at source or repayment of tax from the UK authorities in respect of UK purchased annuities, interest or royalties arising in the UK.

The claim for a repayment of UK tax should be made on a Form IRL / individual and submitted to the UK authorities. Revenue tax the gross amount and no credit for UK tax deducted is due from Revenue on the basis that such tax is refundable by the UK authorities.

Enter amount of Irish tax deducted on encashment from US dividends Line 310, Canadian dividends Line 311, other foreign interest, royalties, annuities, dividends, etc. Lines 317 and 318(b) at Line 319.

TCA 1997 s 895.

Individuals who, or whose spouse or civil partner, opened foreign bank accounts during the year are required to give certain information in relation to such accounts – including the amount of the initial deposit and other details as outlined on the return.

From 1 January 2024, a relevant foreign bank account is a bank account opened in a foreign country that is considered a non-cooperative jurisdiction or is a non-DAC2, non-Common Reporting Standards(CRS) or a non-Foreign Account Tax Compliance Act (FATCA) reporting jurisdiction. More details are available on www. revenue.ie.

Remember to include interest earned from these accounts in lines 306, 317 or 318 as appropriate.

TCA 1997 s 730H, 730I, 730J, 730K.

Individuals resident or ordinarily resident in Ireland must include details of acquisitions of foreign life policies during the period 1 January 2024 to 31 December 2024.

Where a taxpayer has sold, made withdrawals from, or received any cash or other benefits from a foreign life assurance policy or a personal portfolio life policy, often referred to as a bond, with a foreign assurance company, they may have made a gain from a foreign policy. A gain may also occur on a deemed disposal. Receipts from policies that issued from an 'offshore State' are taxable income.

An offshore State is a country other than Ireland which is a Member State of the European Union (EU) or European Economic Area (EEA), or any Member State of the Organisation for Economic Co-operation and Development (OECD) with which Ireland has a Double Taxation Agreement.

With effect from 1 January 2015, the distinction between 'correctly included' and 'not correctly included' is removed (for other than a Personal Portfolio Life Policy (PPLP)) and, any payment whether regular (annual or more frequent) or non-regular (including gains on disposals or deemed disposals), is liable to income tax at the rate of 41%. Such income and gains are not liable to PRSI or USC.

A deemed disposal is the ending of an eight year period beginning with the inception of the policy and each subsequent period of eight years beginning when the previous one ends. In the case of a PPLP, where the income and gains are correctly included the rate of tax is 60%.

A foreign life policy is in general terms one normally issued from outside Ireland. However, a policy taken out with the Irish branch of an overseas assurance company is treated as an Irish policy provided certain conditions are met.

A personal portfolio life policy or bond is a life assurance policy where the benefits payable are determined by the value of property chosen directly or indirectly by the policy holder.

TCA 1997 s 747B-747FA.

Individuals resident or ordinarily resident in Ireland must include details of acquisitions of material interests in all offshore funds during the period 1 January 2024 to 31 December 2024. An interest is a material interest if it is capable of realising an amount equal in value to the proportion of the underlying assets of the offshore fund represented by that interest.

An offshore fund can take the form of an investment in:

• A non-resident company, or
• A foreign unit trust, or
• Any other arrangements, which take effect under foreign law and create rights in the nature of co-ownership.

With effect from 1 January 2015, the distinction between 'correctly included' and 'not correctly included' is removed (for other than a Personal Portfolio Investment Undertaking(PPIU)) and, any payment whether regular (annual or more frequent) or non-regular (including gains on disposals or deemed disposals), is liable to income tax at the rate of 41%.

Such income and gains are not liable to PRSI or USC.

A deemed disposal is the ending of an eight year period beginning with the acquisition of the material interest and each subsequent period of eight years beginning when the previous one ends. In the case of a PPIU, where the income and gains are correctly included the rate of tax is 60%.

A Personal Portfolio Investment Undertaking is an undertaking where the selection of the property of the undertaking can be influenced directly or indirectly by the unit holder.

Note that the receipt of payments from foreign entities that are treated in Ireland as transparent (e.g. partnerships) does not generally give rise to a further liability to tax under the offshore funds provisions. Instead, taxation by first principles applies in such cases. In the same way that partners are taxed directly on income and gains arising within an Irish partnership, Irish investors in foreign entities that are treated in Ireland as transparent, will be taxed in Ireland on their share of the income and gains arising within the foreign entities as those income and gains arise and no entry should be made at Line 322 in such cases.

TCA 1997 s 896.

Individuals who have acquired a material interest in an offshore product (including Foreign Life Assurance Policies and Offshore Funds) in 2024 are required to return the information requested on the Form 11. Details of all receipts from non-qualifying Offshore Funds should be entered in Line 411.

Note that the receipt of payments from foreign entities that are treated in Ireland as transparent (e.g. partnerships) does not generally give rise to a further liability to tax under the offshore funds provisions. Instead, taxation by first principles applies in such cases and no entry should be made at Line 323 or 411 in such cases.

Line 323 caters for 'Other Offshore Products'. The requirements here are governed by TCA 1997 s 896(5).

The information required relates to offshore products which are:

• Foreign life products in a state outside the EU or EEA, or outside an OECD treaty state, i.e. offshore products to which TCA 1997 s 730I does not relate,

• Unregulated offshore funds in the EU or EEA, or in an OECD treaty state and all offshore funds outside the EU or EEA, or outside an OECD treaty state, i.e. offshore products to which TCA 1997 s 747C does not relate.

Therefore, it should be noted that Line 323 of the 2024 Form 11 requires a return of information in relation to two types of offshore funds acquired in 2024. It requires not only details of all such funds which are outside the EU or EEA, or outside an OECD treaty state but also details of unregulated funds (those not coming within Section 747B(2A)) acquired within the EU or EEA, or within an OECD treaty state.

Fees, commissions, etc. from sources other than employments or directorships should be entered on behalf of both self and spouse or civil partner. [Fees, commissions earned in the course of an employment should not be entered here, they are proper to Line 222].

This includes interest on government loans, exchequer bills (including amounts treated as interest on disposals of these securities in certain circumstances) and on other loans and investments. Only income which has not already suffered tax at source should be entered here.

(c) TCA 1997 s 256(1A)-(1B).

Give details of deposit interest from which DIRT was deducted [403(a)].

Do not include income from special share accounts, special term share accounts, or special savings accounts in this Line; they should be included in Line 403(b).

Deposit interest from special share accounts / special term share accounts / special savings accounts -subject to DIRT - should not be returned, unless you or your spouse or civil partner are entitled to claim a refund of DIRT. You are entitled to claim a refund of DIRT where you or your spouse or civil partner are either:

• 65 years or over, or
• Permanently incapacitated, and you are exempt from tax or your tax credits / reliefs exceed your income.

If the account is a special long term share account, you should only enter the amount which has been subjected to DIRT, i.e., the amount after the relevant exemption.

The first €635 of annual dividends / interest received is exempt from DIRT provided that it has been received within 5 years of when the account was opened [403(b)].

Give details of deposit interest from which DIRT was not deducted at Line 403(c).

TCA 1997 s 20.

Tax Magic Para 2.38.

Enter the totals for all dividends plus dividend withholding tax (including manufacturing companies, patent royalty, etc.).

Scrip dividends from quoted resident companies should also be included [404(a)].

[Scrip dividends from unquoted resident companies should be entered at Lines 410(a) - 410(c)].

Enter the totals for all dividends from which dividend withholding tax was not deducted at Line 404(b).

TCA 1997 s 153.

Tax Magic Para 2.44.

Gross income from an estate, settlement, covenant, maintenance agreement, etc. must be returned in this section. Return gross amount where tax was not deducted, [406(a)].

Return gross amount where tax was deducted, [406(b)].

A 'settlement' is defined as any disposition, trust, covenant, agreement, arrangement, or for certain purposes, transfer of assets.

(a) TCA 1997 s 234.

Gross income from patent royalties which is not exempt under TCA 1997 s 234 must be included in this section.

Return the gross amount where tax was not deducted, [407(a)].

Return gross amount where tax was deducted, [407(b)].

This section is to be used to declare proceeds from the sale of patent rights for capital sums.
You can declare the net proceeds from patent rights sold for capital sums in the current year of assessment at

Line 408(a) if you are resident in the State, or at Line 409(b) if you are Non-Resident in the State.

Costs associated with patent rights acquired for capital sums in the current year of assessment can be declared at Line 408(c). Net proceeds from sales in this year of assessment that are chargeable for tax in this year of assessment must be declared at Line 408(d) while net proceeds from sales in the previous year of assessment that are chargeable for tax in this year of assessment must be declared at Line 408(e). The total amount

chargeable under S. 757 in this year of assessment must be declared at Line 408(f).

If you were in receipt of income where Irish standard rate tax was deducted at source, enter the gross amount of the income received here, e.g. annuities.

TCA 1997 s 739G(2A).

(a) TCA 1997 s 739E(1)(b)(ii).

(b) TCA 1997 s 739E(1)(ba).

(c) TCA 1997 s 739E(2A)(b).

This section is to be used when an investment undertaking has elected not to deduct exit tax on a deemed disposal and has so notified the taxpayer. This income is liable at the rates shown at Lines 410(a) and 410(b). The rate varies depending on the nature of the investment gain and the date on which it arose.

This income is liable to income tax only; it is not liable to PRSI or USC.

Detailed guidance on exchange traded funds is set out in Tax and Duty Manuals Part 27-01A-02 and Part 27-01A-03.

Filers should ensure that this specific guidance is reviewed in advance of filing.

(b) TCA 1997 s 739P.

(c) TCA 1997 s 739T.

(d) TCA 1997 s 739Q.

TCA 1997 s 811B.

Payments (including a loan or the loan of or the provision of the use of an asset) to an employee, former employee or prospective employee or director out of a trust or other arrangement that is provided, or funded, by a person (including a company) who is that employee's employer (or subsequently becomes that employee's employer or is connected to the employer) are deemed to be income within the charge to income tax and USC.

As a balancing aspect, if a loan, which has been taxed by virtue of this measure, is wholly or partially repaid, the income tax and universal social charge attributable to the amount repaid may be refunded.

As regards loans, loans of assets or benefits provided before 13 February 2013 where such amounts have not been repaid, the measure imposes a charge to income tax and universal social charge for each year of assessment that the loan remains outstanding or the employee continues to have use of the asset.

The annual amount chargeable is an amount calculated as if the benefit-in-kind provisions apply.

TCA 1997 s 18, 74 (Sch D Case IV).

Tax Magic Para 2.39.

Insert in this section details of any income received from whatever source for which specific provision is not made elsewhere in the return, for example:

• Sums received after discontinuance of a trade or profession.
• Sums deemed to be income by reference to the 'transfer of assets' provisions (TCA 1997 s 806).
• Scrip dividends from unquoted resident companies.
• Amounts from non-qualifying offshore funds.
• Profits arising from micro-generation of electricity. S. 216D TCA 1997 provides for an exemption of up to €200 from Income Tax, USC and PRSI for certain profits arising from the small-scale generation of electricity from renewable technologies at the individual's sole or main residence. To claim the exemption, you must be named on the electricity bill for the premise in question. Reduce the amount of income from micro-generation of electricity by €200 or by the full amount if the total income arising from this source in the year is under €200. Note that this exemption is for a three year period commencing on 1 January 2023 and ending on 31 December 2025.

This part of the return is only relevant where you have income which has a statutory exemption from income tax. Even though this income is exempt, there is a legal requirement on you to enter the profits, gains, distributions or losses where requested.

Do not enter income from other sources which is exempt solely because the level of income is too low to be taxed.

TCA 1997 s 195.

Tax Checklists: Artists exemption: p12.

Artists exempt income is profit on income from qualifying work(s) determined by Revenue to have artistic / cultural merit and for which the Revenue have granted exemption from income tax under TCA 1997 s 195.

This exemption is restricted to the first €50,000.

Income in excess of this amount is taxable and should be entered in Panel B of this return – income from trades, professions, or vocations. The exemption only applies to income tax. The exempt portion of artist's income is liable to both PRSI and USC.

TCA 1997 s 232.

Profits or gains from the commercial occupation of woodlands in Ireland are exempt from income tax.

Distributions paid out of such exempt profits or gains are, under TCA 1997 s 140, not regarded as income for the purposes of the Income Tax Acts.

The exemption only applies to income tax. This income is liable to both PRSI and USC.

TCA 1997 s 216A.

Tax Magic Para 2.36.

Tax Checklists: Rent-a-room: p42.

If you let a room (or rooms) in a 'qualifying residence' as residential accommodation and the aggregate of the gross rents and any sums for food, laundry or similar goods and services in respect of the letting, ('relevant sums'), does not exceed the annual limit for the tax year (currently €14,000), the profits or losses on the relevant sums (where such sums are chargeable to tax under Case IV or Case V, or Case IV and Case V, of Schedule D), are subject to the exceptions described below, treated as nil for income tax, PRSI and USC purposes.

A 'qualifying residence' for a tax year is a residential premises in Ireland, which you occupy as your sole or main residence during that tax year. When calculating relevant sums no account is taken of any expenses incurred in respect of the letting or the provision of additional services.

Where more than one individual is entitled to the relevant sums, the annual limit is divided between them. The relief is not due where the relevant sums are received from your child.

Lettings to students for an academic year, and the provision of meals or other services supplied in connection with the letting may qualify for Rent-a-Room relief. Neither is the relief due where you are an office holder or employee of the person making the payment or of a person connected with the person making the payment or where, in these circumstances, the relevant sums are paid to a person connected to you.

The relief does not affect any entitlement you may have to mortgage interest relief or to capital gains tax exemption on the disposal of a principal private residence. You can opt out of this relief by ticking the box(es) at Line 416(b). If you opt out, enter details at Panel C (Case V income) and/or Line 401 (Case IV income), as appropriate, rather than at Line 415(a).

Where income arising in connection with the letting of a room in your home is taxable under Case IV, the expenses incurred directly in the provision of the accommodation or other services, for example the cost of providing meals, light, heat or laundering costs, are deductible in computing the amount of income entered at Line 401(a).

Additional information on rent-a-room relief is available in Manual 07-01-32.

TCA 1997 s 216C.

Childcare services relief is a scheme of tax relief for income arising from the provision of certain childcare services. Subject to certain conditions, where the gross annual income (before expenses) from the provision of childcare services does not exceed €15,000, the income is exempt from tax.

A summary of the scheme is as follows:

• The individual's gross income limit for a year of assessment is €15,000. If more than one person is providing childcare services in a dwelling, the €15,000 limit is split between the number of people involved,

  
  

• In determining whether the income level exceeds €15,000 no deductions of any kind are taken into account,
• Where the gross income exceeds €15,000 the income is taxable in the normal way, i.e. calculate taxable profits by deducting allowable business expenses from turnover,
• The childcare service must be provided in the carer's home, not the children's home,
• No more than three children may be cared for at any one time,
• The care provider must be self-employed (not an employee) and include the gross income in their annual return of income to the Revenue Commissioners. The claim for the tax exemption is made with this return,
• By claiming this relief you are confirming that you have notified the relevant person in the Health Service Executive (HSE), that you provided child minding services in 2024. In practice this will mean an officer appointed by the local City or County Childcare Committee. See www.pobal.ie/Programmes/County/City Childcare Committees (CCC), telephone +353 1 511 7222 or email enquiries@pobal.ie.
• A separate notification must be made in respect of each tax year for which the exemption is claimed,
• A claim under this section does not affect a person's entitlement to mortgage interest relief in respect of, nor capital gains tax relief on gains from the disposal of, their principal private residence,
• Income to which this section applies will not be taken into account in determining entitlement to the home carer's tax credit,
• The election to have this income exempt from income tax for 2024 must be made on or before 31 October 2024.

If your childcare income qualifies under the above you can elect for this scheme by entering the gross income received at Line 417.

You may, if you wish, choose to have any income / losses from this source assessed under the normal rules for income. If so, include the income / loss in the relevant entries at Lines 107 and 108. This income is exempt from income tax and USC. A separate charge to PRSI arises on this income.

In this section enter the amount of any income which is exempt from income tax but which forms part of total income for the purposes of determining whether the low income exemption applies. An example of this income is foreign government pensions which are exempt from Irish tax because of a double taxation agreement between Ireland and the other state.

This income is exempt from income tax, PRSI and USC.

TCA 1997 s 189A-216.

Tax Checklists: Farm land leasing: p29.

Termination payment: p48.

Tax Magic: Revenue job assist: 2.26.

Insert in this section details of any exempt income received from whatever source for which specific provision is not made elsewhere in the return, for example, exempt investment income received under TCA 1997 s 189.

If you are an employer and have paid medical insurance premiums to an authorised insurer on behalf of your employees enter the amount of tax relief at source granted to you in respect of these premiums (Note: do not enter the amount of the insurance premium(s) paid)

Complete this section only if you are an employer and have paid, as a perquisite / benefit for your employee(s) or director(s), medical insurance premiums to an authorised insurer in the period 1 January 2024 to 31 December 2024.

This includes dental insurance, paid by you as an employer on behalf of your employee(s) or director(s), for non-routine dental treatment. If you are an employer who pays medical insurance premiums for your employee(s) or director(s) the value of the TRS received by you must be recovered by Revenue. Enter the amount of the tax relief at source granted. This amount will be added to your tax liability.

TCA 1997 s 1025.

Tax relief is available for maintenance payments made under a legally enforceable arrangement for the benefit of the spouse or civil partner (not children), i.e. deed of separation / rule of court, etc.

Voluntary maintenance payments to a spouse or civil partner do not qualify for relief.

TCA 1997 s 792.

Only covenants in favour of certain individuals qualify for tax relief:

Children

Unrestricted tax relief can be claimed on covenants in favour of permanently incapacitated minors other than from parents to their own minor incapacitated child(ren) . A minor is an individual under 18 years and unmarried, [503(a)].

Adults

Unrestricted tax relief can be claimed on covenants in favour of permanently incapacitated adults, [503(a)].

In addition, restricted relief can be claimed on covenants in favour of adults aged 65 and over, [503(b)].

Relief available cannot exceed 5% of the covenantor's total income, i.e. gross income less certain deductions from income such as Schedule E expenses ('flat rate expenses'), capital allowances, etc.

TCA 1997 s 238.

Enter details in respect of any other charges / annuity payment(s) other than those listed separately in Lines 501 - 503 inclusive, e.g., patent royalties.

Tax Checklists: Pension contributions: p40.

If you are claiming relief in respect of RACs / PRSAs / QOPPs state the source(s) of your earnings for which the relief is claimed

TCA 1997 s 784.

Tax Magic Para 2.33.

If you are a self-employed individual, a proprietary director or an employee who is not in an occupational pension scheme you can claim tax relief for RAC premiums. As with contributions to other pension arrangements, tax relief for RAC premiums is subject to two main controls.

The first control is an age-related percentage limit of an individual's net relevant earnings (see Table). This provides that the maximum pension contribution to all pension products in respect of which an individual may claim tax relief may not exceed the relevant age-related percentage of their net relevant earnings in any year.

The second control places an overall upper limit on the amount of net relevant earnings that may be taken into account for the purposes of giving tax relief. The earnings limit is set at €115,000 for 2024. This limit applies whether an individual is contributing to a single pension product or to more than one pension product. Net relevant earnings consist essentially of relevant earnings less deductions which would be made in computing total income for tax purposes. These deductions include losses and capital allowances.

A 'non-pensionable employment' is one where the individual is not included for retirement benefits under an approved occupational pension scheme relating to the employment. Earnings as a proprietary director or proprietary employee of an investment company are not relevant earnings.

It is very important that you enter your date(s) of birth in the appropriate section of the return [Line 2 and/or Line 6(d) ] to ensure you get the maximum relief to which you are entitled.

The relevant percentage of net relevant earnings are set out in the Table hereunder.

Example

If you are aged 43, have earned €45,000 in this period and make an RAC payment of €12,000, the relief due to you is restricted to €45,000 @ 25%, i.e. €11,250. The balance of the payment, €750, may be carried forward to the following year(s) and treated as a qualifying premium paid in that year(s).

The 30% limit will apply, if you are less than 55 years of age and your income comes wholly or mainly from a specified sporting occupation, i.e. athlete, badminton player, boxer, cricketer, cyclist, footballer, golfer, jockey, motor racing driver, rugby player, squash player, swimmer or tennis player.

The tax-deductible contributions are calculated by reference to a maximum earnings figure of €115,000 for the year 2024 on contributions to all pension products.

Relief may be claimed in respect of:

• Premiums paid in the period 1 January 2024 to 31 December 2024,
• Any premiums paid in an earlier year for which relief has not been obtained,
• Any premium paid between 1 January 2025 and the return filing date for 2024 (and for which relief has not already been allowed) where you claim relief as if it was paid in the period 1 January 2024 to 31 December 2024.

This claim must be made on or before the return filing date for 2024. If you file your return under ROS you may avail of the extended filing date to make an election and pay a contribution.

TCA 1997 s 787A-787L.

Contributions paid into a PRSA will benefit from tax relief at an individual's highest income tax rate. It is very important you enter your date(s) of birth in the appropriate section of the return [Line 8 and Line 5(d) ] to ensure you get the maximum relief to which you are entitled.

Relief is available against net relevant earnings, i.e. earnings from a trade, profession, office or employment, after deducting losses, capital allowances and certain other amounts (TCA 1997 s 787B(4)).

The percentage of net relevant earnings which may be claimed as a deduction in respect of PRSAs are set out in the following tables. Earnings as a proprietary director or proprietary employee of an investment company are not relevant earnings.

Table A Contributions to an occupational or statutory scheme and to a PRSA linked to such a scheme (PRSA-AVC)

Relief is limited to the age % limit of the remuneration from the office or employment including AVC contributions to the scheme. The amount of net relevant earnings against which any other PRSA contributions may be set is reduced by the remuneration from the office or employment.

These limits will apply to the combined total of the employee contributions to the PRSA and the occupational / statutory pension scheme.

Table B Contributions [employee's plus employer's (if any) to a PRSA only]

As with contributions to other pension arrangements, tax relief for PRSA contributions is subject to two main controls. Please see the section on Retirement Annuity Contracts on page 39 if you require additional information.

The tax-deductible contributions are calculated by reference to a maximum earnings figure of €115,000 for the year 2024 on all contributions to all pension products.

For example, if an employee aged 40 earns €200,000 the maximum allowable contribution will be €28,750 (i.e. earnings limit €115,000 x 25%). You may be granted tax relief for PRSA contributions up to €1,525 paid, even if this exceeds the normal income based limit. For example, a person aged 23 earns €9,525 and makes a PRSA contribution of €1,600. The age percentage of net relevant earnings is €1,429 however, he would be entitled to minimum relief of €1,525. This does not apply in the case of contributions to an AVC PRSA.

The 30% limit will apply, if you are less than 55 years of age and your income comes wholly or mainly from a specified sporting occupation, i.e. athlete, badminton player, boxer, cyclist, footballer, golfer, jockey, motor racing driver, rugby player, squash player, swimmer or tennis player.

The tax relief is non-transferable between spouses or civil partners in line with existing rules for RAC and occupational pension scheme contributions.

Contributions made by an employer to a PRSA on behalf of an employee must be returned in Line 239 of the Form 11. Such contributions are treated for relief purposes as if made by the employee.

The total amount to be entered at Line 510, is the sum of:

• The PRSA contribution paid by an employer on your behalf [Line 508(c)]. (Note to also enter this figure at Line 239),
• The amount paid by you and certified on Form PRSA 1 (which you retain), see note below on 'PRSA 1 Certificate', [508(d)],
• The amount paid between 1 January 2025 and the return filing date for 2024 for which relief is claimed for 2024 (and for which relief has not already been allowed), [508(e)]. This claim must be made on or before the return filing date for 2024. If you file your return under ROS you may avail of the extended filing date to make an election and pay a contribution.
• Any amount paid in a prior year for which relief has not been obtained, [508(f)].

  
  

Certificates PRSA 1, PRSA 1 (Net Pay), PRSA 2 AVC (Net Pay)

Relevant Certificate(s) will be available from the PRSA provider as follows:

PRSA1 Certificate -This certificate will be issued to individuals taking out a PRSA product not linked to an occupational or statutory pension scheme. There will be no income tax relief due on contributions made to this type of PRSA if the individual is a member of an occupational or statutory pension scheme unless he or she has other relevant earnings against which the relief may be allowed.

PRSA1 (Net Pay) Certificate -This certificate will be issued to employees and directors who are not members of an occupational or statutory pension scheme.

PRSA 2 AVC (Net Pay) Certificate -This certificate will be issued to employees and directors taking out a PRSA/AVC product which is linked to an occupational or statutory pension scheme.

TCA 1997 s 787M-787N.

Relief is available for contributions paid on or after 1 January 2005 by a 'relevant migrant member' who comes to Ireland and who continues to contribute to a pre-existing 'qualifying overseas pension plan' concluded with a pension provider in another EU Member State. Contributions will benefit from tax relief at the individual's highest income tax rate.

'Overseas pension plan' means a contract, an agreement, a series of agreements, a trust deed or other arrangement which is established in, or entered into under the law of, a Member State of the European Communities, other than Ireland. It covers occupational pension schemes and personal pension schemes that a migrant worker might bring to Ireland whether he or she was employed or self-employed in the other EU Member State. It excludes any state social security scheme.

'Qualifying overseas pension plan' means an overseas pension plan that:

• Is established in good faith for the sole purpose of providing retirement benefits similar to those approved in Ireland,
• Qualifies for tax relief on contributions under the law of the EU Member State in which it is established, and
• In relation to which the migrant member of the plan has irrevocably instructed the administrator of the plan to provide the Revenue Commissioners with any information that they may require in relation to the plan.

A 'relevant migrant member' is an individual who:

• Is a resident of Ireland.
• Was a member of the plan on taking up residence in Ireland.
• Was a resident of another EU Member State at the time he or she first became a member of the plan and was entitled to tax relief on contributions under the law of that Member State.
• Was resident outside of Ireland for a continuous period of three years immediately before becoming a resident of Ireland.
• Is a national of an EU Member State or, if not, was resident in an EU Member State (other than Ireland) immediately before becoming a resident of Ireland. If an individual moves to Ireland from any other EU member state with a pre-existing qualifying overseas pension plan, the Revenue Commissioners are not aware of anything that will prevent that individual from meeting the 'relevant migrant member' condition that he or she was entitled to tax relief on contributions to the plan under the law of that member state.

Where the conditions in relation to a 'qualifying overseas pension plan' and 'relevant migrant member' are met, relief may be granted in respect of any contributions paid. In order to claim relief the individual should complete part 1 of Overseas Pension 1 form available at www.revenue.ie.

The plan administrator should complete part 2 of the form and provide a 'certificate of contribution' setting out contributions made by the individual to the plan and, where relevant, any contributions made by their employer in Ireland.

Employers are authorised to operate the 'net pay arrangement' where contributions to a 'qualifying overseas pension plan' are deducted from an individual's salary. Where relief is obtained under the 'net pay arrangement' no further relief will be due.

Relief is subject to the same age percentage limits and earnings limit as apply to contributions to approved pension plans in Ireland. It is very important that you enter your date of birth in the appropriate section of the Return [Line 8 and Line 5(d)] to ensure you get the maximum relief to which you are entitled.

Contributions by Irish employees to an overseas pension scheme.

Finance Act 2005 section 21 allows for the approval, on or after 1 January 2005, by the Revenue Commissioners of occupational pension schemes provided to Irish employers / employees by pension providers based in other EU Member States (i.e. 'overseas pension scheme') which are structured other than on an irrevocable trust basis, so long as the standard approval conditions are met.

Claims for relief for contributions paid to an overseas pension scheme are dealt with on the same basis as claims for relief for contributions to an Irish approved occupational pension scheme.

An employer is authorised to operate the 'net pay arrangement' in respect of allowable contributions to a qualifying overseas pension plan where such contributions are deducted from the employee's emoluments.

TCA 1997 s 480A, Sch 23A.

Sportspersons who cease permanently to be engaged in a 'specified' occupation or to carry on a 'specified' profession may be entitled to a deduction from total income. The amount of the deduction is set at 40% of the gross receipts, before deducting expenses, which arose wholly and exclusively from engaging in the sport.

A sportsperson must be resident in Ireland for the year of assessment in which they cease permanently to be engaged in that profession. This relief, given by way of repayment of income tax, takes the form of a deduction from total income and can be claimed for up to any ten of the years of assessment back to and including the tax year 1990/91 for which the sportsperson was resident in Ireland.

Relief is restricted to direct earnings from participation in certain sports. It does not apply to indirect sports earnings such as sponsorship monies, personal appearances or interviews, participation in advertisements, etc. The 'specified' occupations / professions are:

• Athlete
• Badminton player
• Boxer
• Cricketer
• Cyclist
• Footballer
• Golfer
• Jockey
• Motor racing driver
• Rugby player
• Squash player
• Swimmer
• Tennis player

Other points to note in relation to this relief are:

• PRSI and USC are chargeable on the income before relief is granted,
• It does not create or augment a loss for the purposes of 'loss relief',
• This deduction is not to be taken into account in determining 'net relevant earnings' (RAC / PRSA relief),
• The relief given will be withdrawn if the person recommences participation in the sport on a professional level.

  
  

Any queries in relation to this relief can be directed to your local Revenue office.

Example

before retirement relief claimed

Example

after retirement relief claimed

This credit was introduced by the Finance Act 2023 and was extended in Finance Act 2024 to include the year 2024. It is available to claim in 2023 and 2024 only, in respect of a qualifying property that is registered for LPT and is located within the State. In order to qualify for the Mortgage Interest Tax Credit, the value of the qualifying loan at 31 December 2022 must have been greater than €80,000 and less that €500,000.

The credit for 2024 is calculated on the increase in interest paid in 2024 over interest paid in 2022. The maximum amount qualifying for relief at the standard rate of tax (20%) will be €6,250 per residence. This is equivalent to a maximum tax credit of €1,250.

Where interest is paid for less than a full year in 2022 or 2024, the relief due will be prorated. This means that the maximum relivable interest of €6,250 and the maximum tax credit of €1,250 will be adjusted to reflect the shorter time frame.

Revenue will perform the required calculations once you have provided all the relevant information in your Income Tax Return.

The Mortgage Interest Tax Credit is available in respect of qualifying properties used as the sole or main residence by:

• you and / or your spouse or civil partner,
• a former or separated spouse or a former civil partner or a civil partner from whom you are living separately in circumstances where reconciliation is unlikely,
• a dependent relative, where the property is provided rent-free and without any other consideration to that dependent relative.

Note: A property owned jointly between married couples or civil partners is considered as 100% owned by the assessable spouse or nominated civil partner for the purpose of claiming the Mortgage Interest Tax Credit.

A qualifying loan for the purpose of claiming the credit is a loan provided by a qualifying lender listed as a credit information provider by the Central Bank of Ireland. The Central Bank of Ireland publish the list of credit information providers which gets updated on a monthly basis and is available on the central credit register website.

In order to claim the credit for 2024, you must submit the following documents in support of your claim:

• Certificate of mortgage interest 2022
• Certificate of mortgage interest 2024
• Confirmation of mortgage balance at 31 December 2022

Supporting documents should be submitted to Revenue via ROS using the Upload Supporting Documents service available under the Other Services section.
For further information relating to the Mortgage Interest Tax Credit please refer to Tax and Duty Manual Part 15- 01-11Bå

TCA 1997 s 248A.

Tax Magic Para 2.46.

There is no restriction to the amount of relief available on a loan applied in acquiring an interest or share in a farming partnership.

In respect of all other loans, relief is only available where the loan was taken out on or before the 15 October 2013, or if taken out after that date, the loan was a replacement loan for an existing loan that was taken out before that date. Relief is restricted to 25% of the interest paid for 2024.

Where the loan was taken out after that date (and is not a replacement loan) no relief is due and the interest should not be entered in the tax return.

TCA 1997 s 482.

Tax Magic Para 2.42.

TCA 1997 s 482 provides relief for expenditure incurred on the repair, maintenance or restoration of approved buildings / gardens in Ireland.

Qualifying expenditure is treated for tax purposes as if it were a loss in a separate trade carried on by the owner / occupier of an approved building / garden and the normal rules for giving loss relief apply.

Unrelieved qualifying expenditure incurred in a particular chargeable period can be carried forward for two subsequent chargeable periods.

TCA 1997 s 466A.

Tax Checklists: Home carer: p33.

Tax Magic Para 2.64.

Home carer tax credit may be due if you are jointly assessed to tax and you or your spouse or civil partner, as a home carer, provided care for:

• a child for whom you are entitled to social welfare child benefit,
• a person who is permanently incapacitated by reason of mental or physical infirmity and such person normally resides with you for the year, or
• a person aged 65 or over.

A spouse or civil partner is not a dependent person for the purposes of this relief.

Home carer tax credit is €1,800 subject to the home carer's income, if any, remaining below an income threshold of €7,200, [515(a)].

Where the income exceeds this threshold the tax credit is reduced by one half of the amount of home carer's income that exceeds €7,200. Accordingly no credit is due if income exceeds €10,800.

The following table gives examples of the relevant tax credit due as the income of the home carer increases.

For example, where the income of the home carer is €9,050 the entry in Line 515(a) will be €875 (Max. 1,800 - 925).

The tax credit is not available to married couples and civil partners who are taxed as single persons.

'Look-back' year [515(b)]

Where the Home Carer's 2024 income exceeds the threshold, Home Carer tax credit may still be due provided that all other conditions are met and the credit was granted in 2023 on the basis as set out above. Where credit is due under this paragraph, the relief due is the same amount as the credit granted in 2023. Effectively this means the tax credit can be due for a year in which the Home Carer's income exceeds the threshold, but only for the immediate following year and subject to a maximum of the tax credit granted in the previous year. See following example:

Example

Home carer's income 2023 €8,700

Tax credit due 2023 €950

Home carer's income 2024 €10,000

Tax credit due in 2024 €950

Home carer's income 2025 €10,000

Tax credit due in 2025 €400

Married couples and civil partners cannot receive both the home carer tax credit and the increased standard rate band for dual income couples.

Even if you make a claim for home carer tax credit, if the increased standard rate band is more beneficial in your circumstances it will be granted instead.

TCA 1997 s 472.

Tax Checklists: Employee tax credit: p23.

Tax Magic Para 2.71.

An individual whose income is subject to PAYE (i.e. wages, salary, occupational pension) may claim an employee tax credit of up to €1,875. An employee tax credit may also be claimed by:

• Recipients of social welfare payments; widow, widower's or surviving civil partners (contributory) pension, guardian's payment (contributory), state pension (transition), state pension (contributory), illness benefit, occupational injury benefit and jobseekers benefit,
• Irish resident recipients of social security pensions received from another EU member state,
• Taxpayers who are employed abroad and who pay tax abroad on their earnings under a PAYE type system (or a similar system where tax is deducted at source from the earnings of the employment). To qualify for the relief, the earnings from the employment must be subject to Irish tax.

The employee tax credit cannot be claimed by:

• A spouse or civil partner or child of an individual or of an individual's civil partner in respect of emoluments paid by the individual (or by a partnership in which the individual is a partner),
• A proprietary director or their spouse or civil partner or child, or child of an individual's civil partner in respect of emoluments received from the company in which the director has a proprietary interest. [A proprietary director of a company is a director who controls either directly or indirectly more than 15% of the share capital of that company].

However, children of proprietary directors or their civil partners are entitled to the employee tax credit if:

• The employment is in a qualifying PRSI contribution class,
• PAYE has been correctly applied to the child's income,
• It is a condition of the employment that the child is required and devotes substantially the whole of his / her time to the duties of the employment,
• They are paid at least €4,572 per year (may be apportioned on a time basis).

TCA 1997 s 472AB.

Tax Checklists: Earned income tax credit: p22.

Tax Magic Para 2.70A.

The earned income tax credit can be claimed by self-employed individuals and proprietary directors who are ineligible for the Employee tax credit. The maximum relief is €1,875 for 2024.

Note: Where an individual has income that qualifies for the Earned Income tax credit and the Employee tax credit, the combined tax credits cannot exceed €1,875.

TCA 1997 s 468.

Tax Checklists: Blind person: p14.

Tax Magic Para 2.75.

Blind person's tax credit can be claimed by a single person or where one or both spouses or civil partners are blind at any time during the tax year.

An allowance is available where an individual maintains a trained guide dog. Relief in respect of a guide dog is allowable under health expenses.

An allowance is available where an individual maintains a trained assistance dog. Relief in respect of an assistance dog is allowable under health expenses.

TCA 1997 s 466.

Tax Magic Para 2.70.

If you maintain at your own expense:

• a relative, including a relative of your spouse or civil partner, who is unable to maintain themselves by reason of old age or infirmity,
• a widowed father or widowed mother of yourself or your spouse or civil partner regardless of Ireland of their health,
• a son or daughter who resides with you and on whose services you are compelled to depend due to old age or infirmity,

you can claim a dependent relative tax credit of €245.

If the income of the relative is in excess of €17,404 in 2024 or if another person is claiming this tax credit in full, you should not claim this tax credit.

TCA 1997 s 472.

Tax Checklists: Carer for incapacitated person: p16.

Tax Magic Para 2.49.

If you, your spouse or civil partner or a relative (includes a relative of your spouse or civil partner and a person in respect of whom the claimant is or was the legal guardian) are totally incapacitated throughout a tax year and you employ a person to care for the incapacitated person you may be entitled to claim this relief.

The relief is not due to you if the individual is employed as a housekeeper only, or if dependent relative tax credit or incapacitated child tax credit has been claimed in respect of that individual.

The amount of the relief is the cost of employing the carer, subject to an overall maximum amount of €75,000, less any amount recovered from a health authority, local authority, etc.

Where two or more persons employ the individual the relief is apportioned between them in proportion to the amount borne by each person. Relief is allowed at an individual's highest rate of tax.

TCA 1997 s 471.

Tax Magic Para 2.50.

Where your employer deducts the contributions from gross pay the tax relief is given at source. It will therefore, not be necessary to claim relief in your annual tax return.

Where your employer does not deduct the contributions from gross pay, relief can be claimed by completing Line 522 where you as an individual paid a premium on a policy to secure the continuance of income and payment of benefits during disablement through accident, injury or sickness.

The policy must be approved by Revenue as a permanent health benefit scheme. Only the portion of the premium that is attributable to the provision of permanent health benefit qualifies for relief at the individual's highest rate. Maximum relief cannot exceed 10% of an individual's total income.

TCA 1997 s 507.

SURE is a tax relief for entrepreneurs who leave an employment and set up their own business. See Revenue.

TCA 1997 s 502.

Tax Checklists: EIIS relief: p27.

Tax Magic Para 2.53.

The employment investment incentive (EII) is a tax relief incentive scheme that provides tax relief for investment in certain corporate trades. The scheme has replaced the Business Expansion Scheme (BES) . See Revenue.

TCA 1997 s 503.

SCI is designed to assist start-up companies raise equity financing. It is a tax relief available to family members of existing shareholders. The company must be carrying on a brand new venture and none of the shareholders can carry on a similar venture. See Revenue.

TCA 1997 s 473A.

Tax Checklists: College fees: p17.

Training course fees: p49.

Tax Magic Para 2.77.

Tax relief at standard rate (20%) is available for the following:

• Tuition fees including student contribution paid to approved colleges for the 2024 academic year commencing on or after 1 August 2024 in respect of approved undergraduate courses of at least two years duration. The maximum limit relief in respect of qualifying fees for the academic year 2024 is €7,000 (including student contribution) in respect of each course.
• Tuition fees paid for certain training courses in the areas of information technology and foreign languages. The relief applies to fees ranging from €315 to €1,270 per student.
• Tuition fees paid in respect of certain postgraduate courses, subject to a maximum relief of €7,000 per course.

The first €3,000 of each claim is disregarded for relief, where any one of the students in respect of whom the relief is claimed is a full-time student. In the case of a claim for relief where all the students concerned are studying part-time, the first €1,500 of the claim for relief is disregarded.

Lists of approved courses in approved colleges are available on Revenue's website.

Note: Relief is not available in respect of exam fees, administration fees, registration fees, etc

TCA 1997 s 462B.

Tax Magic Para 2.67.

To qualify for this tax credit the primary claimant must be a single person who has a qualifying child residing with him or her, or a person who has custody of and maintains a qualifying child who is living with him or her for the whole or greater part of the year of assessment (i.e. more than six months).

If the child was born during the year, they must reside with the claimant for the greater part of the year from birth. A primary claimant can only be someone who is single, widowed, a surviving civil partner, deserted, separated (from spouse or civil partner), divorced or whose civil partnership has been dissolved.

A child can only be the subject of one claim, and a claimant can only make a claim for one child for a year of assessment irrespective of the number of children that reside with him or her. The credit will be granted for a child up to the age of 18 years or, if over 18 years, where they are receiving full-time instruction. The credit can also be claimed in the case of a permanently incapacitated child where the incapacity occurred before age 21, or if older, while the child was in full-time instruction.

Note: Full-time instruction does not include post graduate and doctorate programmes where the student is primarily involved in self-managed research and learning. The relevant claim form SPCC1, available on www.revenue.ie or from any Revenue office, must be completed and submitted to your Revenue office for the initial claim.

Relinquishing a claim to the single person child carer credit in favour of another claimant

The primary claimant of the credit may, if they wish, relinquish their entitlement to this tax credit to another individual by completing the relevant section on Form SPCC1. However, once it is relinquished and claimed by another individual, known as the secondary claimant, the tax credit stays with the secondary claimant for the remainder of that tax year. If the primary claimant withdraws their relinquishment later, they cannot avail of the credit until the year following the year in which the relinquishment was withdrawn. The primary claimant must notify their Revenue office, in writing, if they wish to withdraw a relinquishment.

The secondary claimant must also be someone who is single, widowed, a surviving civil partner, deserted, separated (from spouse or civil partner), divorced or whose civil partnership has been dissolved. A qualifying child must reside with the secondary claimant for not less than 100 days during the tax year. For the purposes of this legislation the greater part of a day will be counted as a day. Therefore, where a child resides with a claimant from before noon on one day and stays with that claimant until the following evening that would be counted as two days.

The relevant claim form SPCC2, available on www.revenue.ie or from any Revenue office, must be completed by the secondary claimant and submitted to their Revenue office. This form is not to be completed unless the primary claimant has relinquished their entitlement to the tax credit.

Only one credit will be granted in the year to either the primary claimant or secondary claimant.

TCA 1997 s 465.

Tax Checklists: Incapacitated child credit: p36.

Tax Magic Para 2.69.

You are entitled to an incapacitated child tax credit if you are the parent / guardian of a child, (including stepchild, legally adopted child or informally adopted child) who is permanently incapacitated, either physically or mentally, from maintaining themselves and:

• who is under 18 years of age, or
• who, if over 18 years of age at the commencement of the year 2024, had become permanently incapacitated before reaching 21 years of age, or
• who, if over 21 years of age became permanently incapacitated after reaching the age of 21, but who was still in full-time education or while training for a trade or profession for a minimum of two years.

A child under the age of 18 years shall be regarded as permanently incapacitated by reason of mental or physical infirmity only if the infirmity is such that there would be a reasonable expectation that if the child were over the age of 18 years the child would be incapacitated from maintaining themselves. Where more than one child is incapacitated a tax credit may be claimed for each child.

You should submit a completed form ICC1 together with a form ICC2 certified by a medical practitioner. Both of these forms are available on www.revenue.ie or from any Revenue office. In the event of an audit it will be necessary for you to produce this certificate. Where all the conditions for the tax credit are not satisfied you may be entitled to claim Dependent Relative tax credit, see Note for Line 520.

TCA 1997 s 470.

This section only applies where your employer paid Medical Insurance premiums on your behalf (or on behalf of your dependents). This includes Dental Insurance, paid by your employers on your behalf, for non-routine dental treatment.

Relief for medical insurance paid by you, either direct to the insurance provider or deducted from your salary as part of a group scheme, is given at source and should not be claimed in this form.

To claim relief in respect of medical insurance paid by your employer, provide the information requested in the form.

Relief is 20% of the amount of the premium, restricted to €1,000 where the person covered by the policy is an adult, and restricted to €500 where that person is a child. For policies renewed or entered into on or after 1 May 2015, the full adult maximum amount of €1,000, or the relevant premium where this is lower, applies for all individuals aged 21 and over, regardless of whether they are availing of a child premium. These amounts are where the policy is for a full twelve months. Where it is for a shorter period (e.g. only taken out half way through the year) the amounts are reduced on a pro rata basis.

If more than three individuals are covered by the policy, provide the relevant information for the remaining individuals in a note attached to the Form 11.

(a) TCA 1997 s 372AR.

(b) TCA 1997 s 372AAB.

Tax Magic Para 2.57.

Owner occupier relief applies where an individual purchases a newly constructed property or converts / refurbishes an existing property that is sited wholly within a designated area under a property based incentive scheme.The claimant must be the first occupier after expenditure has been incurred and must occupy the premises as a sole or main residence. No deduction is given for a year if the dwelling is not used for this

purpose. The amount of the deduction is 5% of the expenditure per annum for a newly constructed property or 10% of the expenditure per annum for conversions / refurbishments. The deduction is allowed at the individual's marginal rate of tax for ten years.

Where you are claiming relief under this incentive scheme you must give details in Panel N. See notes for Panel N.

Owner occupier relief is calculated as follows:

Purchase price X [Construction costs / (Site costs + Construction costs)]

Example

Apartment purchased for €180,000 in a designated area and immediately occupied as a sole / main residence.

Site costs of €20,000 and construction costs of €140,000.

€180,000 X (140,000/160,000) = €157,500

Owner occupier relief €157,500

The relief, €157,500 @ 5% = €7,875, is due for ten years provided the apartment continues to be the sole or main residence of the owner.

There is no clawback of the relief if the property is sold within the ten year period, but the relief cannot be passed to a subsequent purchaser. Owner occupiers who share their property with family or friends are entitled to the relief, provided the owner occupier uses the property as a sole or main residence.

Any income from the sharing arrangement is assessable on the owner occupier and should be included at Lines 201 - 206 inclusive. If Rent-a-Room Relief applies the income should be returned at Line 416(a).

TCA 1997 s 472BA.

Tax Magic Para 2.26A.

A tax credit of €1,270 is available for fishers who are employed on a fishing vessel that is licensed by an EU Member State and is registered on the EU Community Fishing Fleet Register. The credit is available to both full and part-time fishers and can be offset against total income, that is, income from fishing and other sources. Certain other conditions apply and if you are unsure of your entitlement to this allowance further information is available on www.revenue.ie or from your local Revenue office.

TCA 1997 s 472B.

Tax Magic Para 2.27.

A tax allowance of €6,350 is available for seafarers who are employed at sea on a voyage to or from a foreign port for at least 161 days in the tax year. It also applies to seafarers on vessels which service drilling rigs. The allowance can only be set against this employment. It cannot be set against any other income of the individual or their spouse or civil partner.

The allowance is only available to those who are employed on a sea-going ship, other than a fishing vessel, which is registered in the shipping register of a European Member State and is used solely for the purpose of carrying passengers or cargo for reward.

TCA 1997 s 472BB.

The Sea-Going Naval Personnel Tax Credit is available for the years of assessment 2021 to 2029 inclusive. The relevant period is the year prior to that for which you wish to claim the credit.

See Revenue.

The Rent Tax Credit is available for the 2022 to 2025 tax years inclusive and the maximum value of the credit for the year 2024 is €2,000 in the case of a jointly assessed married couple or civil partners, and €1,000 in all other cases.

The credit is broadly available in the following three circumstances:

• where the claimant makes a qualifying payment in respect of his or her principal private residence
• where the claimant makes a qualifying payment in respect of a 'second home' which he or she uses to facilitate his or her attendance at, or participation in, his or her employment, office holding, trade, profession or an approved course and
• where the claimant makes a qualifying payment in respect of a property used by his or her child to facilitate the latter's attendance at, or participation in, an approved course.

Payments made by parents in respect of 'digs' or rent-a-room arrangements for their children to attend an approved course will now qualify for the Rent Tax Credit. This is provided the claimant and their child are not related to the landlord.

Claims for qualifying payments made during the 2024 tax year should be made on this return.

Further information is available from the Tax and Duty Manual Part 15-01-11A which sets out the full range of conditions to be met in order for a claimant to qualify for the rent tax credit (see).

TCA 1997 s 1020.

This section allows you to claim relief in the 'Year of Marriage' if you were married in 2024. For tax purposes, both individuals continue to be treated as two single persons in the year of marriage. However, if the tax payable as two single persons in that year is greater than the tax which would be payable as a married couple - a refund of the difference can be claimed.

A refund of tax for the year of marriage would normally only arise where a couple are taxed at different tax rates and one spouse could benefit from the unused standard rate cut-off point or from some of the unused tax credits of the other spouse.

If you wish to claim this relief, insert X in the box at (a).

State the amount of your spouse's income for 2024 at (b).

State the repayment amount claimed in respect of self at (c).

State the amount of repayment claimed in respect of your spouse at (d).

Your spouse will have to make a separate claim for relief under TCA 1997 s 1020 in their return.

TCA 1997 s 848A.

The arrangements for allowing tax relief on donations will depend on whether the donor is a PAYE-only taxpayer or a self-assessment taxpayer. These arrangements are:

• For a PAYE-only taxpayer who makes a donation, the relief will be given on a 'grossed-up' basis to the approved body. In this circumstance, relief should not be claimed on the return in respect of a PAYE-only taxpayer and a non-proprietary director under the PAYE system.

• For an individual who pays tax on a self-assessment basis, including a proprietary director, relief can be claimed for donations made by entering the relevant details at Line 536 of the return.

The minimum donation for the tax year is €250. Relief is granted at an individual's highest rate of tax.

Please ensure that you only claim for amounts for which you hold receipts.

You need not send the receipts to Revenue with your claim. However, you must keep the receipts as you may be asked to send them to Revenue if your claim is chosen for examination.

Expenses that do not qualify

• The cost of sight testing and advice as to the use, supply, repair or maintenance of spectacles or contact lenses.
• Routine dental treatment which is defined as 'the extraction, scaling and filling of teeth and the provision and repair of artificial teeth or dentures'.

The following notes may be of assistance when completing Lines 538 -550. You must have paid or incurred the amounts claimed on treatment prescribed by or on the advice of a qualifying practitioner. Drugs and medicines can only be claimed where supplied on the prescription of a practitioner.

'Other' health expenses incurred (can include):

• Un-reimbursed prescribed drugs / medicines.
• Qualifying dental expenses.

You can claim tax relief for expenditure of amounts up to €80 per calendar month for prescribed medication.

Expenditure in excess of €80 per month is recoverable from the health service executive under the drugs payment scheme. If you have not done so already, you can register with the Health Service Executive as an individual / family for a drugs payment card. Using this drugs payment card you do not pay more than €80 per month for prescribed medication and thus avoid having to claim amounts in excess of €80 from the Health Service Executive.

Qualifying dental expenses: a form Med 2, completed and signed by the dental practitioner, should be retained by you for qualifying dental expenses that you are claiming.

Tax Checklists: Health expenses: p31.

Tax Magic Para 2.48.

TCA 1997 s 469.

If you maintain an individual on a full-time basis in a nursing home, enter the amount of the health expenses attributable to the individual in the box(es) provided [537(a)].

State the personal public service number (PPSN) of the person that you maintain in the nursing home at Line 537(b).

State the name and address of the nursing home at Line 537(c).

E.g., health service executive.

E.g., VHI, LAYA Healthcare, Irish Life Health, etc.

E.g., compensation claim.

Nursing home expenses only: Line 537 + line 540 + line 541.

Line 538 - line 542.

'Other' health expenses incurred: Relief is given at the standard rate of income tax 20% for the year of claim.

Tax Checklists: Dental expenses: p19.

These include:

Maternity Care: the cost of providing routine health care in respect of pregnancy is allowable.

Coeliac Patients: Coeliac patients may claim relief in respect of the cost of gluten-free food products specifically manufactured to be gluten-free (as such food may be considered to be an allowable expense for the purposes of a health expenses claim). A letter from a doctor stating that the taxpayer is a coeliac sufferer is acceptable. Receipts are not confined to those from a chemist -receipts from supermarkets, etc. in respect of food products specifically manufactured to be gluten-free are also acceptable.

Diabetic patients: Diabetic patients may claim tax relief in respect of the cost of food products manufactured specifically for diabetics (as such food may be considered to be an allowable expense for the purposes of a health expenses claim). A letter from a doctor stating that the taxpayer is diabetic is acceptable. Receipts are not confined to those from a chemist -receipts from supermarkets, etc. in respect of food products manufactured specifically for diabetics are also acceptable.

Child oncology patients and children with permanent disabilities: in certain circumstances tax relief may be claimed under the heading of health expenses for overnight accommodation, travel, telephone, and hygiene products and special clothing.

Kidney patients: for hospital dialysis patients, home dialysis patients and chronic ambulatory peritoneal dialysis [CAPD] patients certain items of expenditure and travel expenses can be claimed under health expenses.

Hearing aids.

Glucometer machine for a diabetic.

In-Vitro fertilisation.

Orthopaedic bed / chair.

Transport by ambulance.

Wheelchair / wheelchair lift (no relief is due for alteration to the building to facilitate a lift).

Engaging a qualified nurse in the case of a serious illness.

Cost of a computer where it is necessary to alleviate communication problems of a person with a severe disability.

Where qualifying health care is only available outside Ireland, reasonable travelling and accommodation expenses can also be claimed. In such cases the expenses of one person accompanying the patient may also be allowed where the condition of the patient requires it.

Some medical expenses must be prescribed by a doctor to qualify for relief. For further information on these and any other health related expenses you should view www.revenue.ie or contact your local Revenue office.

You cannot claim relief in respect of sums already received or due to be received from:

• Any public or local authority, e.g. your local Health Office (formerly known as your health board), [538 & 546],

• Any medical insurance policy, e.g. VHI, Laya Healthcare, Irish Life Health, etc. [539 & 547],

• Any other source, e.g., compensation, [540 & 548].

You must give details of such amounts and deduct them from the total expenses claimed in Form 11 / Form 11S, or on Form Med 1.

(e.g. VHI, LAYA Healthcare, Irish Life Health, etc.)

(e.g. Compensation claim)

TCA 1997 s 485F.

Tax Magic Para 2.89.

The high-income individuals' restriction applies to an individual where all of the following three criteria apply:

• The Adjusted Income of the individual for the tax year is equal to or greater than an Income Threshold Amount which is, in general, €125,000 but is less if the individual had ring-fenced income (e.g. deposit interest),

• The aggregate of specified reliefs that are used by the individual for the tax year is equal to or greater than a Relief Threshold Amount which is set at €80,000, and

• The aggregate of specified reliefs used by an individual for the tax year is greater than 20 per cent of the individual's adjusted income.

Adjusted income is calculated by adding the amount of specified reliefs used by an individual in a year to the amount of their taxable income for the year and then deducting any ring-fenced income. If the restriction applies to you (or your spouse or civil partner), this Panel and a Form RR1 should be completed. See Revenue.

In the case of a married couple or a couple in a civil partnership, the restriction is calculated separately for each spouse or civil partner. The income threshold amount, relief threshold amount, taxable income and adjusted income of each spouse or civil partner must be determined separately.

At Line 601, enter the amount of any Excess Relief being carried forward from earlier years in which the restriction applied.

Excess Relief is the amount of specified reliefs not allowed due to the application of the restriction.

Excess relief coming forward is given as a separate deduction in 2024 (under Section 485F TCA 1997) in computing your taxable income for that year. It is given after all other tax reliefs for the year have been given and is treated as a Specified Relief to the extent to which it is actually used in 2024.

Irrespective of the completion and submission of Form RR1, Panel N must be completed as appropriate.

Transfer of Data from Form RR1 to Lines 602 and 603 (Panel J of the Form 11)

Amounts at Lines 602 and 603 should be transferred from the completed Form RR1:

Line 602 should state the amount(s) of Taxable Income for 2024, calculated on the basis that the limitation on use of reliefs does not apply. In the case of a married couple or a couple in a civil partnership, the original Taxable Income of each spouse or civil partner must be entered at this line, even though the restriction may apply to only one spouse or civil partner.

TCA 1997 s 485E.

Line 603 should state the amount(s) of recalculated taxable income for 2024. In the case of a married couple or a couple in a civil partnership where the restriction applies to only one spouse or civil partner, the original Taxable Income (if any) of the other spouse or civil partner should be re-entered at this line in the space relating to that other spouse or civil partner.

TCA 1997 Part 19 Principal Provisions Relating to Taxation of Chargeable Gains (ss 532-613A)

Tax Checklists: Deductible expenses: p51.

Tax Magic Chapter 4.

Capital Gains Tax (CGT) is a tax on the disposal of certain assets owned by you or your spouse or civil partner. At its simplest, deducting the price you paid for an asset when you acquired it from the sale proceeds when you disposed of it gives you the chargeable gain.

Example

You purchased shares in January 2024 at a cost of €5,000 and sold them in August 2024 for €8,000.

Assume you have no other Capital Gains, Losses or allowable expenditure:

Due date for payment of capital gains tax

Capital gains tax is subject to self-assessment principles. For 2024 the due date for paying CGT is determined by the date the asset was disposed of and the CGT tax year is divided into two periods for CGT payment purposes as follows:

• Disposals between 1 January 2024 and 30 November 2024 inclusive -'initial period' -CGT due by 15 December 2024
• Disposals between 1 December 2024 and 31 December 2024 inclusive -'later period'- CG due by 31 January 2025.

A refund may arise where, for example, a payment was made on a gain arising in the 'initial period' and a loss arises in the 'later period'.

While the payments must be made by these dates, the return of details of the gain is generally due on 31 October in the year following the year in which the disposal took place. If you disposed of chargeable assets during 2024 (1 January 2024 to 31 December 2024 inclusive) give the required details on the return.

You should retain your CGT calculations and supporting documentation (purchase / sale contracts, valuations, etc.) in case these are requested by Revenue for the purposes of a verification check or an audit.

(d) TCA 1997 s 649A.

(e) TCA 1997 s 594.

(f) TCA 1997 s 747A.

(i) TCA 1997 s 913(5).

(j) TCA 1997 s 541C(2) (a).

In this panel you are required to give details in relation to disposals in the year 1 January 2024 to 31 December 2024.

You are not required to submit your computation with the return but rather you are required to give the information requested on the return.

At Line 801 you should indicate the type of assets sold and the aggregate consideration for each asset and show the total consideration at Line 801(l).

TCA 1997 s 547, 549.

If any of the disposals involved a transaction which was not at arm's length insert X in the appropriate box at Line 802 or 803.

(a) TCA 1997 s 604.

(b) TCA 1997 s 598.

(c) TCA 1997 s 599.

(d) TCA 1997 s 603A.

(e) TCA 1997 s 604B.

(f) For example, entrepreneur relief under TCA 1997 s 597AA.

Tax Checklists: Entrepreneur relief: p52.

Principal private residence relief: p53.

Retirement relief: p55.

Share buyback relief: p56.

Site to child: p58.

Transfer of business to company: p59.

Tax Magic Para 4.11.

If you are claiming reliefs such as retirement relief, principal private residence relief, etc.; you make the claim at Line 805 or 806 as appropriate. The chargeable gain at Line 807 should be net of any of the reliefs claimed here.

(a) TCA 1997 s 604.

(b) TCA 1997 s 598.

(c) TCA 1997 s 599.

(d) TCA 1997 s 603A.

(e) TCA 1997 s 604B.

(f) For example, entrepreneur relief under TCA 1997 s 597AA.

Tax Checklists: Entrepreneur relief: p52.

Principal private residence relief: p53.

Retirement relief: p55.

Share buyback relief: p56.

Site to child: p58.

Transfer of business to company: p59.

Tax Magic Para 4.11.

TCA 1997 s 604A.

The CGT exemption (commonly referred to as the 7 year CGT exemption) applies to property bought between 7 December 2011 and 31 December 2014.

Up to 31 December 2018 the property had to be held for a minimum of seven years.

The relief only applies to property acquired:

• at arm's length for full consideration, or
• for at least 75% of its market value where it was acquired from a relative.

From 1 January 2019, full exemption from CGT is given in respect of property which is held for at least four years but not more than seven years.

If the property is held for more than seven years only the proportion of the gain corresponding to the seven year period is exempt.

Tax Checklists: Property disposal (7 year exemption) checklist: p54.

TCA 1997 s 604A.

TCA 1997 s 604A.

TCA 1997 s 601.

(max €1,270 per spouse or civil partner and not transferable)

(Note: losses, including losses forward, must be used first)

TCA 1997 s 730K.

(b) TCA 1997 s 747A.

(c) TCA 1997 s 594.

(d) TCA 1997 s 597AA.

(e) TCA 1997 s 541C(2) (a).

In order that a correct acknowledgement of self-assessment can issue you have to complete Lines 819 to 820, which allocates the net chargeable gain to the relevant period, but if you have an overall CGT loss in 2024 there is no need to complete these lines.

(b) TCA 1997 s 747A.

(c) TCA 1997 s 594.

(d) TCA 1997 s 597AA.

(e) TCA 1997 s 541C(2)(a).

Where the chargeable gain in respect of a disposal to which the above section applies, is deemed to accrue in a year of assessment, which is later than the year of disposal, then the rate of CGT applicable, is that of the year of disposal. Please note that for disposals made before 4 February 2010 this treatment in relation to the timing of the accrual of the gain only applied to farmland disposed of for road-building purposes.

Example

Under a CPO of farmland for road-building purposes, the authority entered on the land (to which this provision applies), in 2005, this is the date of disposal. The rate of CGT was 20% in 2005.

The compensation was not agreed at that time. The compensation is received in 2024, when the rate is 33%. The applicable rate is that which was in effect at the date of disposal, being 20% in this scenario (i.e. a disposal in 2005).

If the above section applies you will have to complete a Form CG1 2024 as the Form 11 / 1 / Form 11S 2024 does not cater for individuals with this type of chargeable gain.

TCA 1997 s 826, 826A.

Where an individual, who is chargeable to tax in Ireland in respect of a capital gain, is also taxed on the gain in another country, the foreign tax paid may be credited against the Irish capital gains tax, if provided for in a double taxation agreement with that country.

To claim a credit for this foreign tax, provide the information requested in the form, i.e. the amount of the gain, the country where the tax was paid and the amount of foreign tax for which double taxation relief is now claimed. Proof of the foreign tax paid must be retained as this may be requested in support of your claim; however it should not be sent in with the return form.

Enter the number of assets acquired and the consideration given under the appropriate categories (a-h) where relevant.

The consideration given will usually comprise money or money's worth for the acquisition of the asset. However, where a transaction occurs between connected persons or where the transaction is not conducted as a bargain at arm's length the amount entered on the form as the consideration given will be the market value of the asset at the time of acquisition. It may also be necessary to state the market value of the asset as the consideration given:

• Where the asset is acquired (wholly or partly) for a consideration that cannot be valued,
• Where the asset is acquired by means of distribution from a company, or
• Where the asset is acquired in connection with or in recognition of a person's employment, for example in the case of certain employee share schemes.

  
  

If you received a gift or an inheritance in 2024, insert X in the box.

Where the value of a gift or an inheritance, when added to the value of prior aggregable benefits (if any) received on or after 5 December 1991 within the same group, exceeds 80% of the relevant threshold, a Capital Acquisitions Tax return must be made.

A gift is treated as having been received on the date of the gift. An inheritance is generally treated as having been received on the date of death of a person.

The information given does not satisfy a requirement to file a capital acquisitions tax return (Form IT38).

Form IT38 and information regarding filing of this form is available at www.revenue.ie.

The specific schemes on which information is required are listed in Panel N of the return. Where you are claiming relief in respect of any of these schemes you must provide the information requested in this part of the return.

This reporting requirement was introduced in 2004, however there is no change to the method of claiming or granting the relief. This page in the return is for statistical purposes only; its purpose is to identify the specific relief claimed and to provide a breakdown of the amount claimed under each scheme.

The information to be provided refers to reliefs under two main headings, residential property and industrial buildings allowance as appropriate. Under each of these headings information is sought on owner occupier and investor-lessor separately.

The figure to be entered is the amount claimed in a particular year. It should not include amounts carried forward into the year either as losses or capital allowances, see following examples.

Where you have invested in a property based incentive scheme through a partnership you are still required to account for your share of the relief in this panel of the return.

Married couples and couples in civil partnerships

Where married couples or couples in civil partnerships are assessed under TCA 1997 s 1017 or TCA 1997 s 1031C, i.e. under joint assessment, they file a single tax return.

As there are not separate sections for self and spouse or civil partner in this Panel of the return, an aggregate figure is required for each relief. If both spouses or civil partners have claimed relief for the same type of investment the aggregate should be entered at the appropriate line.

Schemes not listed in Panel N: The majority of property based incentive schemes on which relief can be claimed are listed at Lines 901 -934 inclusive. However, there are certain older schemes where you may still be claiming relief.

Residential property owner occupier

The amount to be entered here is the annual amount of the allowance.

Example

A qualifying apartment in a rural renewal area purchased in 2007 with qualifying expenditure of €130,000.

Relief of 5% is due for 2024 of €6,500.

The amount to be entered in Panel N, Line 904, is €6,500.

Investor - lessor

This relief, commonly known as 'section 23' relief, is granted in full in the year in which the property is first let under a qualifying lease, information on this relief is only required in that year. Unused relief is carried forward as a rental loss and is not required in this Panel of the return.

Example

In 2024 an investor purchased a property in a town renewal scheme with qualifying expenditure amounting to €140,000. The results from property lettings for 2024 are as follows:

The amount to be entered in Panel N, Line 902, is €140,000

TCA 1997 s 372AP and 372AR.

TCA 1997 s 372AP and 372AR.

TCA 1997 s 372AU.

TCA 1997 s 372AP and 372AR.

TCA 1997 s 372AP and 372AR.

TCA 1997 s 372AP and 372AR.

TCA 1997 s 372AP.

TCA 1997 s 372AAB.

An owner occupier is a person who has the 'relevant interest' in a property and the property is in use for the purpose of a trade carried on by that person.

An Investor-Lessor is an individual who lets a building to a lessee and who has the relevant interest in respect of the qualifying expenditure. The amount to be entered for both Owner Occupier and Investor – Lessor is the amount of the Capital Allowance claimed for 2024 ignoring amounts carried in from earlier years.

Example

An investor has incurred allowable expenditure in a qualifying hotel of €2,750,000, which qualifies for an annual writing-down allowance of 15% (€412,500).

The amount to be entered in Panel N, Line 917, is €412,500 (writing-down allowance claimed for the year whether fully utilised or not).

TCA 1997 s 372C and 372D.

TCA 1997 s 372AC and 372AD.

TCA 1997 s 352 and 353.

TCA 1997 s 372M and 372N.

TCA 1997 s 344.

TCA 1997 s 372D.

TCA 1997 s 343.

TCA 1997 s 372V and 372W.

TCA 1997 s 268(1)(d).

TCA 1997 s 268(3).

TCA 1997 s 268(2C) (b).

TCA 1997 s 268(2C)(a).

TCA 1997 s 268(1)(g).

TCA 1997 s 268(3A).

TCA 1997 s 268(1) (i).

TCA 1997 s 268(2A).

TCA 1997 s 268(1C).

TCA 1997 s 268(2B).

TCA 1997 s 843A.

TCA 1997 s 843B.

TCA 1997 s 268(1) (m).

TCA 1997 s 268(2D).

TCA 1997 s 372AW.

TCA 1997 s 372AAC.

TCA 1997 s 372AAD.

TCA 1997 s 268(1) (n).

Where the scheme(s) on which you are claiming relief is / are not listed at Lines 901 - 934 state the name of the incentive scheme(s), quote the relevant section and enter the amount of relief claimed in the year (owner occupier, investor-lessor)

Where you are claiming relief in respect of an investment in a scheme not listed in this panel the name of the relevant scheme and the amount of relief claimed should be entered in Line 935.

If there were investments in more than one of these unlisted schemes write in the names of the schemes and enter a single total figure.

In addition to completing your annual return of income form – Form 11 – you must make a self-assessment for the year 2024. You make this self-assessment by completing the self-assessment section of the Form 11. If you do not make this self-assessment you may be liable to a penalty of €250.

However, you do not have to make a self-assessment if you return the completed Form 11 to the address shown on page 1 on or before the 31 August 2025. This date has been extended to 30 September 2025. If you file your completed return on or before that date Revenue will make the self-assessment on your behalf.

If you make your own self-assessment, you must, in addition to signing the declaration on page 1 of the form, sign the declaration in the self-assessment panel. If you do not sign this declaration you will not have made a self-assessment.

When completing the self-assessment panel you should note:

(a) This is the amount of your total income for this year before taking account of any deductions, reliefs, or allowances. Total income includes sources of income from employments, pensions, Department of Employment Affairs and Social Protection payments, rental and investment income, as well as self employed income. Where you are in receipt of trading or professional income, it is the adjusted net profit after taking account of business expenses, but before losses forward or capital allowances)

(b) (i) This is the amount of income tax chargeable after taking account of any deductions, reliefs and allowances, but before any tax credits such as personal tax credit, medical expenses, tax deducted per P60, etc).

(b) (ii) This is the amount of USC chargeable; note USC for self and spouse or civil partner should be & (iii) recorded separately.

(b) (iv) This is the amount of PRSI chargeable; note PRSI for self and spouse or civil partner should be recorded separately.

(b) (vi) This is the sum of income tax, USC, and PRSI chargeable.

(c) (i) -(ii) This is the amount of tax payable or tax overpaid for the period, which is computed by reducing the amount of tax chargeable ((b) (vi) above) by the amount of any tax credits due. Credits include obvious items such as the personal tax credit or employee tax credit, but also less obvious items such as dividend withholding tax (DWT) withheld / deducted, DIRT withheld at source, PAYE operated on Schedule E income and professional services withholding tax (PSWT) . This is the amount of PSWT withheld / deducted, before any interim refunds already made by Revenue.

(c) (iii) The amount of any refund of tax withheld at source (e.g., interim refund of PSWT) should be entered here.

(d) -(e) This is the amount of tax payable, adjusted for any refund or offset of tax withheld at source already made by Revenue.

(f) If you are filing this return after the specified return date for the chargeable period, a late filing surcharge is due.

If your return is late the surcharge, which is added on to your tax due, is

• 5% of the tax due or €12,695, whichever is the lesser, where the return is submitted within two months of the due date
• 10% of the tax due or €63,485, whichever is the lesser, where the return is more than two months late.

(g) If you file this return on time, but at the date of filing, you have failed to submit your LPT return or have failed to either pay the LPT due or enter into an agreed payment arrangement, a surcharge should be added to the final liability as if this return was filed late by two months or more. Therefore the amount payable in your self-assessment should be increased by 10% subject to a maximum increased amount of €63,485. Where the LPT is subsequently brought up to date, the amount of the surcharge will be capped at the amount of the LPT liability payable)

(h) (i) This is the amount of tax already paid to the Collector-General, i.e. your 2024 preliminary tax paid. Do not include any balancing payments which are now due and will be paid at the time this return is being submitted.

(i) Enter any balance of tax payable / overpaid for this period in the appropriate field (i) -(ii)

(i) (i) (Note: this is tax payable amount at (d) above, plus the amount of any surcharge due at (f) or (g), less the amount of tax already paid at (h) (i) and the amount of tax deferred at (h) (ii))

(i) (ii) This is tax overpaid amount at (e) above, less the amount of any surcharge due at (f) or (g), plus the amount of tax already paid at (h) (i) and the amount of tax deferred at (h) (ii).

You do not have to complete the self-assessment panel if you submit this return to Revenue on or before 31 August 2024. If you do not submit the Form 11 by that date, you may be liable to a penalty of €250 if you do not complete the self-assessment section in that form. By using ROS you can instantly and accurately calculate your Income Tax liability.

(b) This is the amount of tax chargeable on the chargeable gain after taking account of any deductions, reliefs or allowances, e.g. personal allowance or transfer of business to a company.

TCA 1997 s 959P.