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Irish Rental Income

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  • 13-06-2018 8:51pm
    #1
    BarneyMc
    Registered Users Posts: 1,504 ✭✭✭


    As a landlord, I've rented out my house since February 2017 (€600 per month) and contacted Revenue then but they said I didn't need to file a return until this year. I'm now having my doubts although this page seems to suggest I'm ok?
    Tagged:


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    #2
    Happy4all
    Closed Accounts Posts: 2,089 ✭✭✭Happy4all


    BarneyMc wrote: »
    As a landlord, I've rented out my house since February 2017 (€600 per month) and contacted Revenue then but they said I didn't need to file a return until this year. I'm now having my doubts although this page seems to suggest I'm ok?

    File and pay 2017 online by 14/11/2018

    Deal with prelim tax for 2018 at the same time


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    #3
    BarneyMc
    Registered Users Posts: 1,504 ✭✭✭BarneyMc


    Happy4all wrote: »
    File and pay 2017 online by 14/11/2018

    Deal with prelim tax for 2018 at the same time

    OMG I could kiss you!


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    #4
    Grumpypants
    Registered Users Posts: 7,816 ✭✭✭Grumpypants


    Yip you just have to pay by Nov, but there is no need to wait until then. You can do it at any point from jan onwards.

    You can even do it online. It is made very simple. And there is now the facility to have this years taken from your paye tax credit each month. I now have a little portion of my wages going each month to cover the tax. At the end of the year then im not hit with a big bill.


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    #5
    BarneyMc
    Registered Users Posts: 1,504 ✭✭✭BarneyMc


    I've started completing Form 11 for 2017 on ROS (I assume I have to create a separate form for 2018). Here's my basic annual figures below - can someone please let me know the screenshot accurately reflects this? Thanks.

    Gross rent for 2017 = 11 months x €600 = €6,600
    Interest paid on mortgage = €390
    House property charge = €90


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    #6
    HcksawJimDuggan
    Registered Users Posts: 394 ✭✭HcksawJimDuggan


    Only 80% of interest is allowed & LPT is not an allowable deduction.


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    #7
    BarneyMc
    Registered Users Posts: 1,504 ✭✭✭BarneyMc


    HcksawJimDuggan wrote: »
    Only 80% of interest is allowed & LPT is not an allowable deduction.

    Thanks for that. Looks like I can add house insurance premium and RTB registration fee of €90. I'm getting my info here.


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    #8
    barryf42
    Registered Users Posts: 93 ✭✭barryf42


    you can add house insurance costs etc and any repairs or purchases i.e. paint, white goods etc- i don't think you can claim the prtb charge though - check that one out -


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    #9
    HcksawJimDuggan
    Registered Users Posts: 394 ✭✭HcksawJimDuggan


    PRTB is allowed. You'd more than likely have to claim capital allowances on white goods.


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