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Rent-a-room scheme v's becoming landlord

  • 04-08-2015 4:48pm
    #1
    stunner2011
    Registered Users, Registered Users 2 Posts: 5 ✭


    Hi all, help please! I've had to move house, due to work, and hoping to rent my own house or rent some rooms. Trying to decide which is the best route to follow.
    Annual rent will be below 12,000 so the rent a room scheme could apply.
    How often do I need to be in my own house? I'm staying in a rental property close to work.
    How would it be found out if you weren't there?
    If I did go down landlord route, could I offset rent in New house?
    I believe I will lose mortgage interest relief if I become a landlord, if that's the case there's no way I could afford to live.
    Is there anyone else in a similar situation?
    Any advice or guidance would be welcomed!!


Comments

  • #2
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Obviously if you don't live there, the rent a room scheme does not apply.


  • #3
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,690 Mod ✭✭✭✭Stheno


    stunner2011 wrote: »
    Hi all, help please! I've had to move house, due to work, and hoping to rent my own house or rent some rooms. Trying to decide which is the best route to follow.
    Annual rent will be below 12,000 so the rent a room scheme could apply.
    How often do I need to be in my own house? I'm staying in a rental property close to work.
    How would it be found out if you weren't there?
    If I did go down landlord route, could I offset rent in New house?
    I believe I will lose mortgage interest relief if I become a landlord, if that's the case there's no way I could afford to live.
    Is there anyone else in a similar situation?
    Any advice or guidance would be welcomed!!

    How often do I need to be in my own house? I'm staying in a rental property close to work. Revenue would want to be convinced it was your principle private residence, i.e. that you live there most of the time
    How would it be found out if you weren't there? Revenue audit? Tenants reporting you if they had a grievance?
    If I did go down landlord route, could I offset rent in New house? No
    I believe I will lose mortgage interest relief if I become a landlord, if that's the case there's no way I could afford to live. Ask your bank about this
    Is there anyone else in a similar situation? There have been plenty of thread on this if you do a search


  • #4
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    stunner2011 wrote: »
    How would it be found out if you weren't there?
    We aren't a tax evasion service.

    Thread closed.

    Moderator


  • #5
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    And locked.


This discussion has been closed.
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