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renting a room out

  • 25-09-2017 12:01pm
    #1
    Registered Users, Registered Users 2 Posts: 20,944 ✭✭✭✭


    Just a quick one, I have an elderly relative that is thinking about renting a room out in her house as she is living alone and the money and the company could do her good,
    My question is do you have to pay tax if you rent a room out  ?
    If so is there anywhere I could get her the information ?


    Thanks


Comments

  • Registered Users, Registered Users 2 Posts: 7,223 ✭✭✭Michael D Not Higgins


    With the Rent-a-Room scheme, you can earn up to €14,000 per annum tax free. Note that once the income goes above 14k, the entire amount is taxable. Also a yearly tax return must be completed to state the income earned.


  • Registered Users, Registered Users 2 Posts: 20,944 ✭✭✭✭yourdeadwright


    With the Rent-a-Room scheme, you can earn up to €14,000 per annum tax free. Note that once the income goes above 14k, the entire amount is taxable. Also a yearly tax return must be completed to state the income earned.
    Thanks
    Just so i have this correct even though she will not be taxed , she still must do a tax return at the end of the year to show its been rented ?


  • Registered Users, Registered Users 2 Posts: 7,223 ✭✭✭Michael D Not Higgins


    Thanks
    Just so i have this correct even though she will not be taxed , she still must do a tax return at the end of the year to show its been rented ?

    Yes. I believe this must be done through the online system by filling out the relevant form 11 or form 12 (depending on self assessed or PAYE). It might be worth having someone set that up if they're elderly and not good with computers.


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