First qualifying lease for section 23 relief

RCSATELLITES

Hi I bought a property last year and it was sold within the 10 years of a first qualifying lease. So section 23 relief should pass onto the new owner and revenue claw back for seller.
I have put in my tax return for 2016 and revenue are looking for the first qualifying lease.

Is this the first lease that the seller would have drawn up with their first tenant.

How the hell could I get this?? It would be back from 2007.

Is there any other way around this???

Thanks in advance

RCSATELLITES

Does anybody have a clue???

thegolfer

Correct.

Revenue is seeking to ensure that you are entitled to the S.23 relief in the first place.

Possibly check with the PRTB, or if the landlord had an agent then the rental agent.

What year was it built, and look at the date of connection for ESB\Gas, which could indicate the starting period of the lease, however, imprecise a result that may produce?

Had the person you purchased it from an Accountant, and do they have tax returns from the relevant periods.

Solicitors documents, and registration with the land registry.

The management company, and documents lodged in the CRO, tracing the timelines.

If you can establish that it was built and finalised at a certain time, and then a lease must have been created after that date and hopefully is within the 10 year period.

Put a credible case together and revert to Revenue.

A CRO search can be done very quickly.

Possibly email the PRTB seeking details of any and all registrations.

RCSATELLITES

thegolfer wrote: »

Correct.

Revenue is seeking to ensure that you are entitled to the S.23 relief in the first place.

Possibly check with the PRTB, or if the landlord had an agent then the rental agent.

What year was it built, and look at the date of connection for ESB\Gas, which could indicate the starting period of the lease, however, imprecise a result that may produce?

Had the person you purchased it from an Accountant, and do they have tax returns from the relevant periods.

Solicitors documents, and registration with the land registry.

The management company, and documents lodged in the CRO, tracing the timelines.

If you can establish that it was built and finalised at a certain time, and then a lease must have been created after that date and hopefully is within the 10 year period.

Put a credible case together and revert to Revenue.

A CRO search can be done very quickly.

Possibly email the PRTB seeking details of any and all registrations.

Thank you so much for replying and providing great information.

I have gone through my deeds and have the following.

1). Statement of Construction cost and site acquisition dated 12 June 2006
2). Certificate of Compliance from Longford County Council Rural Renewal Scheme. dated 08 Dec 2006
3). Original Lease between management company and first owners dated 31 July 2007
4). Land registry ownership transferred to me dated 25 Sep 2015


So first owners bought property on 31/07/2007
The owners had another address on the land registry so this was not their main residence.

I was told the owner was an accountant with alot of properties who got into difficulty during the recession, and hence why had to sell property.

The property was sold within the 10 years to me. I presume it was let out and section 23 relief claimed by the previous owner. Why else would he buy the property for €250k in Longford.

Revenue would have clawed back any relief used.

I have contacted my Solicitor but she said its a personal thing between the owner and his tenants and it would be hard to get.

I have sent a freedom of information application to the RTB (PRTB) to see what comes back. As they would not give me any info over the phone in relation to past tenancies

I am entitled to this relief but revenue seem to have found a way to reject the majority of applications by asking for the first letting lease.

I am sure revenue have this information from the previous owner or if they clawed back the relief.

I have booked an appointment with an accountant, but would like to be prepared beforehand.

Thanks in advance

RCSATELLITES

thegolfer wrote: »

Correct.

Revenue is seeking to ensure that you are entitled to the S.23 relief in the first place.

Possibly check with the PRTB, or if the landlord had an agent then the rental agent.

What year was it built, and look at the date of connection for ESB\Gas, which could indicate the starting period of the lease, however, imprecise a result that may produce?

Had the person you purchased it from an Accountant, and do they have tax returns from the relevant periods.

Solicitors documents, and registration with the land registry.

The management company, and documents lodged in the CRO, tracing the timelines.

If you can establish that it was built and finalised at a certain time, and then a lease must have been created after that date and hopefully is within the 10 year period.

Put a credible case together and revert to Revenue.

A CRO search can be done very quickly.

Possibly email the PRTB seeking details of any and all registrations.

I have also contacted the estate agent who sold the apartment to me to see if they were the letting agent for the vendor.

I have done a search in the CRO, I have put the previous owners names and the address of the apartment but nothing came up.
What else could I search for?

Thanks again