Rent tax/TRS/PTRB

conormc1984

Hi all,

Was just looking for some advice.
Last year (2012) i was relocated by my job to work abroad. I was still being paid into my Irish account and paying PAYE/USC etc etc. All taxes paid as if i was still living in the country.

Anyway, i let the property out and am getting E900 per month. I am still getting TRS on the property which is approx 85 per month.

I sent the forms off to the PRTB but recently discovered that the registration was on hold, they never notified that the registration was on hold so i thought they were registered. They are getting money through Social Welfare.
Should i contact the PRTB and make the payment or will they also try and fine me cause my tenants were not registered even though they did not let me know that the registration was put on hold (pending payment).
I know that registering will let be get 75% of interest back against rental income but will this in turn stop me from getting TRS. I bought the property in 2008 and this was the first time to let it so i am not familar with most of this stuff.

I read that 20% of rent will have to be declared to the revenue for being a foreign landlord but is it not up to the tenants to have been doing this.

What tax would i be expected to pay when i file to the revenue come October?? I am a little worried here as to how much !!

Would really appreciate any help regarding this issue.

wonski

You should look for proffesional advice now - you should have notified trs that you no longer live there, and register tenancy with prtb.
It is definitely not up to the tenants to notify revenue of any of your affairs.
Good luck, and speak to proffesional advisor asap to avoid fines and troubles with Revenue.

D3PO

you are not entitled to TRS you are claiming money that your not allowed to. Sort out your tax affairs immediately.

Wonski too late to avoid fines from Revenue. But the sooner the OP acts the less damage done.

dearg lady

As above, cancel TRS, sort out PRTB registration. Are you saying your tenants are on rent allowance? It IS up to the tenant to withhold 20% in the case of a landlord abroad, but I'm not sure how this works in case of rent allowance.

gmisk

I have a foreign based landlord.
I contacted revenue directly and they deducted 20% of my rent at source (approx. 100euro per month, so I pay 400euro directly to landlord).

conormc1984

Thanks for your replies,
If i get my TRS stopped will i be able to start getting it back when i move back home ?
I bought the property in 2008 so how many more years of it would i get it for.
If i cancel the TRS due to renting out the property, would i lose my tracker rate with the back ?

conormc1984

conormc1984 wrote: »

Thanks for your replies,
If i get my TRS stopped will i be able to start getting it back when i move back home ?
I bought the property in 2008 so how many more years of it would i get it for.
If i cancel the TRS due to renting out the property, would i lose my tracker rate with the back ?

Any help with this please

D3PO

conormc1984 wrote: »

Thanks for your replies,
If i get my TRS stopped will i be able to start getting it back when i move back home ?
I bought the property in 2008 so how many more years of it would i get it for.
If i cancel the TRS due to renting out the property, would i lose my tracker rate with the back ?

Not sure but its besides the point your not entitled to it

again besides the point. TRS expires in 2017 but your not entitled to it

Cancelling TRS has nothing to do with your tracker rate. Renting out the property might. Check your mortgage contract.