Rental income query

will56 · 26-10-2016 03:55PM #1

HI,

I have been filing my own returns for the last couple of years for a rental property.

I only noticed this year that I forgot to deduct the insurance from my return for the last 3 years.

Is there anyway I can claim this back ?

I'm registered with ROS, could I just put in a larger deduction this year for the insurance ?

exaisle · 26-10-2016 04:49PM

You can amend the returns in the ros online system. Click the link to submit a return online...then click on the return and year you want to amend and follow the menu to amend a return. You can go back to 2012. If you're not sure or my advice is eh..misleading...then give the ros helpline a call.

Or you could bung it in this year...but because tax rates are falling you might get a higher refund if you do it properly...

will56 · 26-10-2016 04:54PM

exaisle wrote: »

You can amend the returns in the ros online system. Click the link to submit a return online...then click on the return and year you want to amend and follow the menu to amend a return. You can go back to 2012. If you're not sure or my advice is eh..misleading...then give the ros helpline a call.

Or you could bung it in this year...but because tax rates are falling you might get a higher refund if you do it properly...

Do I need to do anything extra if I put it into this years return ?
Are revenue going to wonder why my deductions have gone up by about €800 ?

exaisle · 26-10-2016 05:18PM

They might...but it's probably unlikely. It will only be shown in the "other expenses" section but to be honest I'd amend the returns. You're talking ten minutes max. Do it right and get a good night's sleep!

will56 · 26-10-2016 05:22PM

exaisle wrote: »

They might...but it's probably unlikely. It will only be shown in the "other expenses" section but to be honest I'd amend the returns. You're talking ten minutes max. Do it right and get a good night's sleep!

Will do, thanks for the quick replies

Rental income query

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