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Form Rent 1

  • 09-06-2008 3:33pm
    #1
    RoryW
    Registered Users, Registered Users 2 Posts: 1,048 ✭✭✭


    Revenue have updated the Form Rent 1, which is the claim form for the rent relief for private rented accommodation.

    The updated form is available at http://www.revenue.ie/forms/rent1.pdf

    Who can Claim
    An individual, paying for private rented accommodation used as a sole or main residence. This includes rent paid for flats, apartments or houses. It does not include rent paid to Local Authorities or State Agencies or under a lease agreement for 50 years or more.

    Additional Information
    Rent payable for premises outside the State is also allowable (No territorial limit).

    Receipt from Landlord
    If your Landlord is resident in this country a receipt for rent paid must be provided if and when it is requested. This will apply regardless of whether the rent is paid directly to the Landlord or to an Agent on his/her behalf.
    Each receipt must show:
    - Landlord’s name and PPS Number
    - Amount of rent paid
    - Period covered by the receipt, for example: From 1/3/2008 to 30/9/2008

    Rents payable to non-resident landlords
    If your landlord resides outside the country and you pay the rent directly to him/her or into his/her bank account either in the State or abroad, you must deduct tax at the standard rate of tax (2008: 20%) from the gross rent payable.
    Example: Gross rent per month €1,000
    Deduct standard rate tax (€1,000 x 20%) € 200
    Pay to Landlord (€1,000 - €200) € 800

    If you pay tax under the PAYE system, you account for the tax deducted by reducing your tax credits and Standard Rate Cut-Off Point. You must notify your Local Revenue Office who will arrange this for you. If you pay tax under
    self-assessment, account for the tax deducted will be displayed on your notice of assessment.

    Failure to deduct tax leaves you liable for the tax that should have been deducted.

    Tax Refunds
    If your claim is in respect of the current tax year an amended certificate of tax credits will be sent to you and your employer will pay any refund due directly to you.

    If your claim is for a previous tax year or during a period of unemployment, any refund due will be sent directly to you by Revenue. Tax refunds can be paid by cheque or to your Irish bank account. It is not possible to make a refund directly to a foreign bank account.

    As your claim may be selected for future audit, you are requested to retain all documentation relating to this claim for a period of 6 years.

    The Leaflet IT1 on the Revenue website (www.revenue.ie) provides information regarding the amount of relief available

    Relief is due at the standard rate of tax (20%) in the tax years 2007 and 2008 subject to the following upper limits:

    Figures for Tax Year 2007 with 2008 figures shown in brackets

    Single Under 55 max. €1,800 (2008 : €2000)
    Single Over 55 max. €3,600 (2008 : €4,000)
    Widowed/ Married under 55 max. €3,600 (2008 : €4,000 )
    Widowed/ Married over 55 max. €7,200 (2008 : €8,000 )

    So at 20% the max tax refund for a single person is €360 in 2007 or €400 in 2008.


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