Allowable Expenses

blackbox

If letting a property, what expenses can I offset against my tax liability.

(This has probably been asked before, but I'm struggling with the search)

E.g.

if I get some painting done?

If I pay someone to mow the grass once a week? (Large area)

If I get the windows cleaned quarterly?

If I get some new carpets before tenant moves in?

dennyk

Revenue has a fair bit of detail here:

https://www.revenue.ie/en/property/rental-income/irish-rental-income/what-expenses-are-allowed.aspx

Costs that you are actually paying for maintenance during a letting are generally allowed. New carpet would likely have to be claimed as a capital allowance, meaning you could claim 12.5% of the cost each year for up to eight years; you can't claim it all in the same year.

Also important to note that you can't claim relief on your own labour, so if you're doing any of this maintenance work yourself, you'd only be able to claim the cost of any materials for the work in question.

Gumbo

And works prior to the meeting cannot be offset.

They need to be during the meeting kr between tenancies.

Painting.

Yes. Materials and labour if getting it done by a painter. Materials only if doing yourself.

Grass.

yes again if getting done by external person.

Windows.

same as a above.

Carpets.

Can’t be offset prior to initial tenancy. If this is your first time letting it out. Replace them once you have a tenant in place and then 12.5% per year for 8 years.

blackbox

Thanks for the quick replies.

3DataModem

If it is a newly let place, you might be able to find an agent who will do the painting and maintenance for you and bill you once the tenancy starts. Much more tax effective to do upgrades mid-tenancy.