PTRB letter saying need to register

harry999

Hi,

I have a house rented & not registered with PTRB as costs 150 euro. I got a letter from PTRB this morning saying they are aware that the house is rented & I need to register with the PTRB immediately within 14 days.

Do I need to register ? or how would I avoid registering & paying the 150 fee?

godtabh

You need to register. Its the law.

If you paid on time there would be no late fee

BostonB

https://www.prtb.ie/FAQ.aspx#Q57

djimi

The fine for not registering is about €4000 I think so its a lot cheaper just to pay the €150...

harry999

Hi

I know it is the law to pay it, but is there anyway I can avoid paying it. It said 14 days on the letter that was 10 days ago, do I need to act on this immediately are PTRB relaxed? has anybody got a 4000 fine from PTRB?

This house has lost half its value & I must add to rent each month to pay the mortgage, so I cannot afford to pay.

L1011

There is no way to avoid paying it other than to stop renting.

djimi

If you want to be a landlord then you pay the fees associated. If you dont want to pay the fees then stop renting the house out. Simple really.

pippip

I think it goes up per month so the longer you leave it the more expensive it gets.

BostonB

harry999 wrote: »

... has anybody got a 4000 fine from PTRB?...

Dunno who is going to admit to that? - actually found one.

http://www.askaboutmoney.com/showthread.php?t=123141

Sand Wedge

harry999 wrote: »

Hi,

I have a house rented & not registered with PTRB as costs 150 euro. I got a letter from PTRB this morning saying they are aware that the house is rented & I need to register with the PTRB immediately within 14 days.

Do I need to register ? or how would I avoid registering & paying the 150 fee?

Are you aware that if you do not register with PTRB you cannot use your mortgage interest as a deduction from your rental income, thus increasing your rental profit which you will have to pay tax on.

paulpd

If you're not registered with the PRTB then you're not entitled to claim any loan interest as an expense when computing your rental profit for the year. (Assuming you're returning the income)

(Just spotted above post!)

murphaph

Sand Wedge wrote: »

Are you aware that if you do not register with PTRB you cannot use your mortgage interest as a deduction from your rental income, thus increasing your rental profit which you will have to pay tax on.

This!!

It's worth a hell of a lot more than €150 OP.

StillWaters

You have come up on the radar OP, there is no way around this other than registering the tenancy. Have you paid the NPPR?

Rasmus

If you really can't afford it in one lump sum, you can pay by credit card.

Zamboni

Are there any disadvantages to a tenant living in a rental that is not registered with the PTRB?

djimi

Zamboni wrote: »

Are there any disadvantages to a tenant living in a rental that is not registered with the PTRB?

From a tenants point of view it doesnt make any difference; they are still entitled to make a claim through the PRTB regardless. The landlord however is not entitled to use the PRTB if they are not registered.

GetWithIt

Sand Wedge wrote: »

Are you aware that if you do not register with PTRB you cannot use your mortgage interest as a deduction from your rental income, thus increasing your rental profit which you will have to pay tax on.

Your post presupposes that the OP is tax compliant. I think that is a bit of an assumption.

Not bad mouthing the OP but accidental landlords just don't bother.

Paulw

GetWithIt wrote: »

Your post presupposes that the OP is tax compliant. I think that is a bit of an assumption.

Very true. Of course, once registered with the PRTB, it's then easy for the Revenue to follow up to make sure that the OP is fully tax compliant.

Failure to register with the PRTB will mean that the PRTB will definitely follow up on their first letter, which can mean a €4,000 fine, plus back dated fees.

The OP has no choice but to pay the fees and get everything in order, very quickly. There is no way out, other than not renting the property.

Sand Wedge

GetWithIt wrote: »

Your post presupposes that the OP is tax compliant. I think that is a bit of an assumption.

Not bad mouthing the OP but accidental landlords just don't bother.

Didn't want to assume that he wasn't paying tax. If he is not, the €150 for PRTB will be least of his worries. If PRTB know he is a landlord the Revenue then will soon know. If Revenue do not already get a list of Landlords from the PRTB and compare it to their records I can see them doing this shortly.

Little A

As others have said, your biggest issue will have to do with claiming your 75% on your mortgage interest & if you have claimed this incorrectly in the past, Revenue will almost certainly seek it back.

This will be far more significant than the €150 or €4000 fine that may be imposed.

I would suspect that either a tenant has made a complaint about you as a landlord or a neighbour has made a complaint about noise or anti social behaviour.

BostonB

GetWithIt wrote: »

Your post presupposes that the OP is tax compliant. I think that is a bit of an assumption.

Not bad mouthing the OP but some accidental landlords just don't bother.

Ahem...

Ray Palmer

People are making connections up about PRTB and tax. They seem logical but they aren't true. Tax office can request details from PRTB but are not automatically given the details.
So tax would first need to know who owns the house to query if registered to check with PRTB. Now ask yourself why would they do that?
There is no connection between them in accordance with data protection laws. The government agencies are restricted in information they can share. Ability to request a record is very different to full interaction.
You can still claim tax rights regardless or PRTB unless they changed something drastic.

OP if they know about you then pay it. You should always have paid it. No way out.

Paulw

Ray Palmer wrote: »

People are making connections up about PRTB and tax. They seem logical but they aren't true.

There is no connection between them in accordance with data protection laws.

From the PRTB website, FAQ page -
The PRTB is obliged under legislation to supply the Revenue Commissioners with information.

The OP should prepare to make sure all his financial requirements are in order, as quick as possible.

StillWaters

Ray Palmer wrote: »

You can still claim tax rights regardless or PRTB unless they changed something drastic.

You have to supply the PRTB registration number on your tax return iirc.

Ray Palmer

Paulw wrote: »

From the PRTB website, FAQ page -
The PRTB is obliged under legislation to supply the Revenue Commissioners with information.

The OP should prepare to make sure all his financial requirements are in order, as quick as possible.

Upon request. You can still file your tax returns without PRTB.

harry999

From posts it look like I have no way out but to pay it.

It is rented with more than 4 weeks, so will I have to pay double(late fee) a fee of 180 ?

Agent Smith

its the law.

Kosseegan

harry999 wrote: »

From posts it look like I have no way out but to pay it.

It is rented with more than 4 weeks, so will I have to pay double(late fee) a fee of 180 ?

It depends on your lease. Not every letting has to be registered with the PRTB.

Rasmus

Kosseegan wrote: »

It depends on your lease. Not every letting has to be registered with the PRTB.

There are only a handful of exceptions - judging by the info provided by OP it is unlikely he falls into that catagory.

Sand Wedge

Ray Palmer wrote: »

Upon request. You can still file your tax returns without PRTB.

Yes you can file a Tax Return without registering with the PRTB. However if you included the mortgage interest as a deduction from your income on the Tax Return without registering with the PRTB you have made a false Tax Return and are open to be pursued by Revenue for not alone the Tax on the under declaration of your Rental Profit but also interest and penalties. Revenue can go back 4 years.

murphaph

GetWithIt wrote: »

Your post presupposes that the OP is tax compliant. I think that is a bit of an assumption.

Not bad mouthing the OP but accidental landlords just don't bother.

I bother.