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VAT on porperty purchase. How to stop paying VAT on rental income?

markgl99 · 2016-10-29 17:27:56

Hi. I have an investment property where I claimed the VAT back on the original purchase. I have since paid VAT back for years and believe I am close to having paid back the original amount received. How do I A: Get clarity on what amount I received originally? B: File with the revenue so I am no longer obliged to pay the…

29-10-2016 5:27pm

#1

markgl99

Registered Users, Registered Users 2 Posts: 6 ✭

Join Date: November 2012

Posts: 3

Hi. I have an investment property where I claimed the VAT back on the original purchase. I have since paid VAT back for years and believe I am close to having paid back the original amount received. How do I A: Get clarity on what amount I received originally? B: File with the revenue so I am no longer obliged to pay the VAT on the rental income?
Thanks

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Comments

#2 29-10-2016 5:35pm

Lockedout2

Registered Users, Registered Users 2 Posts: 402 ✭✭

Join Date: March 2016

Posts: 401

Ask your accountant to check the VAT returns for the period when you bought the property.

Is it commercial or residential?

Check out:

http://www.revenue.ie/en/tax/vat/leaflets/property-guide/waiver-exemption-transitional-measures.html

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#3 31-10-2016 9:54pm

markgl99

Registered Users, Registered Users 2 Posts: 6 ✭

Join Date: November 2012

Posts: 3

I don't have an accountant at this point. I'll have to see if I can dig up the paperwork for the original purchase (15 or more years ago). I can access ROS to see the payments made so I can total what I have paid to-date.

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