Early last month, Revenue identified two issues in relation to the 2009 Form 11. The first issue concerns the calculation of income tax due on both the ROS on-line and ROS off-line Form 11 where the high-income individuals’ restriction applies and the individual has Irish deposit interest, which has suffered DIRT. The second issue is that certain fields in the Foreign Income Panel will only assess up to €3,000,000.

High Income Individuals Restriction

Where the limitation on the use of reliefs by high-income individuals applies and the individual has Irish deposit interest, which has suffered DIRT, in certain circumstances, the amount of Irish deposit interest brought into charge is less than the correct amount.

Foreign Income in excess of €3,000,000

There are three fields in the Foreign Income Panel for which the assessing programme will only assess €3,000,000. These are:

• Income from foreign trade/profession on which foreign tax was deducted.
• Foreign rental income.
• Income from all other foreign interest, royalties, annuities, dividends, etc. on which foreign tax was deducted.

If the income from any of these sources exceeds €3,000,000 the income should be entered at another suitable field.

Further details on the above issues are set out in Revenue's eBrief No. 83/10 which is produced here.