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Non-resident rental income

  • 03-03-2017 8:52pm
    #1
    circular flexing
    Registered Users, Registered Users 2 Posts: 2,593 ✭✭✭


    I'm a non-resident landlord with rental income. Last year, my tax return was handled by an agent paid for by my company as part of a relocation package. This year, I would like to do it by myself (the return should be straightforward) but I'm not sure of the process.

    As far as I can make out, I need to

    - Fill in TR1 to register for self-assessment (or is it possible that this was done for me last year by my agent)
    - Register with ROS
    - Fill in return
    - Arrange payment

    Is this the correct order? Thanks.


Comments

  • #2
    Penguin3029
    Registered Users, Registered Users 2 Posts: 56 ✭✭Penguin3029


    That is the correct order.

    As for TR1, I'd guess you're already registered.

    Filing the return and payment happens at the same time. If it's a return for 2016, it's not due until 31 October 2017.

    One point to note. Non resident landlords are supposed to either have an agent here or else I think the tenant is supposed to withhold 20% of the rent, pay this to Revenue, and that's used as a down payment on your tax bill. Not sure how strict the Revenue are on this though, but just FYI.


  • #3
    circular flexing
    Registered Users, Registered Users 2 Posts: 2,593 ✭✭✭circular flexing


    Penguin3029 wrote: »
    That is the correct order.

    As for TR1, I'd guess you're already registered.

    Filing the return and payment happens at the same time. If it's a return for 2016, it's not due until 31 October 2017.

    One point to note. Non resident landlords are supposed to either have an agent here or else I think the tenant is supposed to withhold 20% of the rent, pay this to Revenue, and that's used as a down payment on your tax bill. Not sure how strict the Revenue are on this though, but just FYI.

    Thanks. I'm aware of that rule but from my research it seems like the tenants would be on the hook if revenue came looking. They didn't withhold rent in 2015 and there was no issue.


  • #4
    Bold Abdu
    Registered Users, Registered Users 2 Posts: 213 ✭✭Bold Abdu


    circular flexing wrote: »
    Thanks. I'm aware of that rule but from my research it seems like the tenants would be on the hook if revenue came looking. They didn't withhold rent in 2015 and there was no issue.

    Revenue won't chase the tenant but will still insist on you appointing a Collection Agent.


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