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Need to untangle Rental tax situation.

  • 05-06-2012 1:11pm
    #1
    donalh087
    Registered Users, Registered Users 2 Posts: 615 ✭✭✭


    Hi,

    I have three young kids and the house I was living in was really inappropriate for them. I rented out my house (for E900) and rented another property (for E1200) to live in. I never registered with the PTRB.

    I have never addressed the tax implications and would like to now.

    My tennants have not claimed any rent relief and neither have I. I would like to enable them to claim relief and obviously do so myself.

    Do I need to find an accountant or is this manageable by myself?


Comments

  • #2
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    donalh087 wrote: »
    Hi,

    I have three young kids and the house I was living in was really inappropriate for them. I rented out my house (for E900) and rented another property (for E1200) to live in. I never registered with the PTRB.

    I have never addressed the tax implications and would like to now.

    My tennants have not claimed any rent relief and neither have I. I would like to enable them to claim relief and obviously do so myself.

    Do I need to find an accountant or is this manageable by myself?

    When did this all take place?


  • #3
    Stabshauptmann
    Registered Users, Registered Users 2 Posts: 4,885 ✭✭✭Stabshauptmann


    The issue the poster above is trying to address, is that rent relief is being phased out. You are only able to claim this relief if you were already renting at 7 December 2010.


    As for rental income, please see info here; http://www.revenue.ie/en/tax/it/leaflets/it70.html

    You will not need an accountant to deal with either of these issues. Simply register for Revenue's PAYE online service to claim credits and declare additional income


  • #4
    donalh087
    Registered Users, Registered Users 2 Posts: 615 ✭✭✭donalh087


    @Barneystinson : November 2010

    @Stabs : Ta


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