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Rent Allowance!

  • 13-10-2010 9:02am
    #1
    Fancy That
    Registered Users, Registered Users 2 Posts: 137 ✭✭


    Hi,

    Does anybody know the story wit accepting rent allowance from tenants in a house thats suppose to be owner occupied?

    Does it affect ones tax credits etc?

    Finding it really hard to get a straight answer on this....maybe someone out there has first hand experience.

    Cheers all......


Comments

  • #2
    silja
    Registered Users, Registered Users 2 Posts: 2,921 ✭✭✭silja


    "Supposed to be"?
    You can rent out a room in your home and it still be owner occupied.


  • #3
    Fancy That
    Registered Users, Registered Users 2 Posts: 137 ✭✭Fancy That


    silja wrote: »
    "Supposed to be"?
    You can rent out a room in your home and it still be owner occupied.


    Yes i understand that thanks, but what about renting out all the house?


  • #4
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Are you asking if Revenue will find out that you are renting out the house and that it is no longer your principal residence and that you will be liable for the second home tax from the local authority ?


  • #5
    Fancy That
    Registered Users, Registered Users 2 Posts: 137 ✭✭Fancy That


    snubbleste wrote: »
    Are you asking if Revenue will find out that you are renting out the house and that it is no longer your principal residence and that you will be liable for the second home tax from the local authority ?

    Not asking that....but thanks for informing me.

    I am simply asking if its possible to accept rent allowance from people renting a house thats suppose to be owner occupied? And if so what are implications.


  • #6
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    I'm not suggesting that this is what you are asking, but we can't give advice on fraud.

    If the property is owner-occupied, it is difficult for people renting rooms to get Rent Allowance. However, the owner can avail of the Rent-a-Room Scheme, where they can charge up to €10,000 (all charges) and not pay tax. Go over that and it all gets taxed.

    If the property is not owner occupied, it is normally OK to get Rent Allowance. Income tax would be payable on any profit made. Depending on expenses, including mortgage interest, a profit might not be made.

    Certain credits would no longer be available if it is no long a pricipal prive residence.


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  • #7
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    You need to get permission from the owner/mortgage holder to get rent allowance ,And you have to put down on the form who else,is living there,the owners committing tax fraud if he,s not living there while claiming it as his principle residence.
    And the tax office does check on houses that are rented out for rent allowance.Are you saying does it effect my tax credits,or the owners TAX credits?


  • #8
    senordingdong
    Registered Users, Registered Users 2 Posts: 10,673 ✭✭✭✭senordingdong


    I'm not sure about this one.

    As part of a rent allowance application, I recall having to get proof from revenue that I didn't own any property, as a result of this, it was cross checked to see who did own the property in question, and difficulty could arise there.


  • #9
    solovely
    Closed Accounts Posts: 273 ✭✭solovely


    I'm an owner occupier and one of my lodgers pays his rent through rent allowance. He obviously pays less than €10k a year, so I assume it's all in order. I just have to sign a form he gets from the rent allowance people once a year, with the amount of rent he pays on it and my PPS number. Seems fairly straight forward. Never thought I might be doing anything wrong, can't see how it coud be!!


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