Tax Rates

Faux Socialist

Say if a person owned two town houses, one town house is occupied by the owner and is run as a guesthouse/b&b and the other house is privately letted, would the owner have to pay different rates of tax from the income received from each property?

Mr. Incognito

No. You would amalgamate the incomes and whatever rate results as the effective rate when you have deducted the available credits and expenses from each home.

There would be a big cgt difference if you sold them however due to ppr relief on the guesthouse.

Contact a professional for guidance

Faux Socialist

Thanks. I'm not the owner by the way. It's just my girlfriend lives at a property like above. She applied for credit through a company and the company told her that the place she was living in was registered as a commercial address which isn't the case because all rooms are privately let.

At the private rented address there is also an internet cable running into the B and B and the internet is registered in the landlords name and we were debating the possible reasons for this.

We took into consideration that no one has lease agreements with the landlord so we have come to the conclusion that this is probably for tax purposes.

Mr. Incognito

I cant make any sense of this?

Credit through the company for rent? What company? What credit? None that i am aware of.

It might be listed for commercial rates but that might be that it was an office prior to being relet.

How does an internet cable from one property to another lead to a conclusion that its for tax reasons

So, you are trying to determine your landlords tax structures? Why?

GerardKeating

Mr. Incognito wrote: »

I cant make any sense of this?

Credit through the company for rent? What company? What credit? None that i am aware of.

It might be listed for commercial rates but that might be that it was an office prior to being relet.

How does an internet cable from one property to another lead to a conclusion that its for tax reasons

So, you are trying to determine your landlords tax structures? Why?

I took "She applied for credit through a company" as she applied for a loan or HP, and then the credit check that would logically follow highlighted that she was living in a commercial premise.

Mr. Incognito

GerardKeating wrote: »

I took "She applied for credit through a company" as she applied for a loan or HP, and then the credit check that would logically follow highlighted that she was living in a commercial premise.

Credit checks show loans in the last five years and repayments only.

This info wouldnt come up

Victor

Mr. Incognito wrote: »

Credit checks show loans in the last five years and repayments only.

This info wouldnt come up

You are thinking too narrowly.

Do you think the only check that a bank does is a Irish Credit Bureau check?

Mr. Incognito

Victor wrote: »

You are thinking too narrowly.

Do you think the only check that a bank does is a Irish Credit Bureau check?

Yes. Unless you are purchasing. Thats the only check they would do for a loan.

Faux Socialist

Mr. Incognito wrote: »

How does an internet cable from one property to another lead to a conclusion that its for tax reasons

As in an internet cable running from the modem in the privately let apartments out the window into the b and b.

Mr. Incognito

Faux Socialist wrote: »

As in an internet cable running from the modem in the privately let apartments out the window into the b and b.

Simply sounds like that they are sponging off the ntl so they don't have to pay two bills.

Not sure how that is for tax purposes.

Faux Socialist

Mr. Incognito wrote: »

Simply sounds like that they are sponging off the ntl so they don't have to pay two bills.

Not sure how that is for tax purposes.

Perhaps the landlord is trying to give the impression that the residential premises and the commercial premises are one and the same? Perhaps trespass is also an issue here, no?

Depriving private tenants of internet access for the sole purpose of upholding a commercial premises? How does that sound?