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Dub moved to London-how do i rent my gaff?

dach · 2006-08-06 22:55:13

hi- have a mortgage on a small place i bought in dub10 and have lived in for 2.5 years. Now i've moved to London for work and I want to rent the place and the estate agents say i'd get 1000 pm of which they'll take 100. I've also been told by a mate 20% is taken off for income tax leaving me with 700. my mortgage is…

06-08-2006 10:55pm

#1

dach

Closed Accounts Posts: 31 ✭

Join Date: September 2004

Posts: 18

hi-
have a mortgage on a small place i bought in dub10 and have lived in for 2.5 years.
Now i've moved to London for work and I want to rent the place and the estate agents say i'd get 1000 pm of which they'll take 100.
I've also been told by a mate 20% is taken off for income tax leaving me with 700.
my mortgage is currently 800ish.

Can anyone break down for me how i go about becoming a landlord and registering for income tax and if i'm entitled to any exemptions as i've relocated.
thanks in advance,
tóg go bog é.

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Comments

#2 07-08-2006 8:24am

Lex Luthor

Registered Users, Registered Users 2 Posts: 11,220 ✭✭✭✭

Join Date: February 2004

Posts: 10489

Take a look at The Guide To Rental Income on the revenue website...

I don't know how the tax affects you living in the UK, but any expenses you incur, you can deduct before calculating your tax liability. ie. agent, etc.

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