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Rental Income - Joint Ownership

  • 14-11-2013 10:06am
    #1
    emerald007
    Registered Users, Registered Users 2 Posts: 669 ✭✭✭


    A sibling and I share a rental income from an inherited house first rented in 2013. Do we both need to file separate Form 11 details via ROS or can it be done as a single application?

    I happen to have a company ROS account already so can i use that account to submit these details?


Comments

  • #2
    2ndcoming
    Registered Users, Registered Users 2 Posts: 3,588 ✭✭✭2ndcoming


    It depends on the net income.

    If each of you receive over €3,175 net rental income you both need to register for self assessment and file a Form 11 next year (for 2013).

    If the income is under 3,175 you both file a Form 12 and declare it through PAYE.

    Either way it's something you each have to deal with as individuals, it can't be done as one declaration.

    Your company ROS account is for the company's tax dealings, so you can't use that anyway.

    If you're a business owner / self-employed person you'll be filing a Form 11 anyway so you include your half of the rental income on your personal income tax return.


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