rtb late payment penalty

beaufoy wrote: »

I rent out an apartment in Dublin and have done so for more than a few years. A few days ago I started to think that my RTB registration had elapsed. I had not received a reminder but just in case I wrote to the RTB. They told me my membership had elapsed by 4 months, so I completed the online form, and they asked for 180 euro ie 90 euro for membership and 90 euro late payment charge.
I do not consider it to be fair to charge me 90 euro if they cannot be bothered to write a reminder letter...what do you think

They always sent me email and letters a couple of months before expiry. However it is just a nicety from the RTB. By law they do not have any duty to warn you so unfortunately you will have to pay the penalty

Be very worried because Murphy wants to introduce annual registrations in the new planned legislation: the RTB will get an extra 30M per year of funding in this way under the guise of having more up to date records of tenancies for better enforcement! Let's see what actually comes out from these buffoons in the govvie.

the_syco wrote: »

It doesn't really say how late, though.

Question for other posters; if the OP only paid the €180 late fee if they ever needed the PTRBs help, would they have to pay any more?

A landlord getting help from the RTB? The RTB helps landlords about as much as the fox helps the occupants of the hen-house.

3DataModem wrote: »

The idea that you can only claim tax relief on interest if you register, is absolutely nonsense in my experience.

.

When the Revenue carry out an audit, if they find that tax relief has been claimed on unregistered rental properties, they claw it back and add interest and penalties. It can be very expensive.

At least it is tax deductable. I got caught for the 180 this year, no notification received from the PRTB. Money for old rope in my eyes.

Interesting reading at this link about RTB : https://www.rtb.ie/images/uploads/HR%20and%20Corporate%20Services/RTB_Executive_Officer_-Candidate_Info_Booklet_-_Aug_2021_FINAL.pdf

"The RTB currently has a sanctioned staffing compliment of 107. Call Centre services and document management/data entry is outsourced to a third party, private sector company. The RTB is also supported by outsourced legal, ICT and other administrative services.

The RTB is funded by tenancy registration fees, disputes fees and Exchequer funding. In 2021, the RTB is operating on a budget of approximately €22 million."

Apparently 5 million invested in IT and they can't even send a landlord renewal e-mail? Could do better.......

Are you of the opinion it is voluntary?

Don’t Revenue only require records to be retained for 6 years?

I agree with what you posted though, contrary to what CH posted, during an Audit in 2017 Revenue found one of my registrations had expired. No issue whatsoever with tax relief, I just had to get a new registration and forward details on to Revenue.

I think they just made an extra 80 in fees.

If they had email reminder that would be helpful. I guess that's not their mindset.

That's said I think they are useful to a LL to stop vexatious complains.

But I think their systems are a shambles and I've no confidence in their stats.

That link is for VAT which is not applicable to interest.

But anyway, ignoring that, there is no requirement to keep invoices etc outside of that period, but IT tax returns are still audited as far back as feasible to investigate.

I would be skeptical that an Auditor would ignore non compliance with the requirement to register with the RTB to claim interest as a deduction, but it could happen, but I really would not expect this to happen often, but something to discuss with your own accountant I suppose.

I'd imagine most people advising any non compliance are very loudly advising others but not running the risk themselves....

Yes, I am an accountant.

Hmm, the quote about 7 years is not correct, there are no limits as the article advises. Again, if it is feasible to investigate, they will. Where records are incomplete, they substitute their own estimates to complete their assessment, but bottom line is that it is not significantly harder to audit a 7th, 8th or 9th year when you have information for the first 6 years, and they wouldn't pick such a large number of periods to audit without reason.

Sorry, I am not inferring you are advising non compliance, but I regularly deal with clients who read something on the Internet....it's more than a little annoying 😂

Friends of ours had a Rev audit a few years ago because they filed a late return, paid the tax by the due date ok but didn't submit the paperwork because the husband was in a car accident and the paperwork was overlooked and sent in months late. They paid the interest and late fees and then got notice about an audit.

They had a rental property bought during the boom but no records older than the required 6/7 years. The Rev auditor wanted details going back to when the rental was bought and they had to get copies of paperwork from bank, solicitor, employers etc. Friends said they felt like the Rev auditor treated them like criminals with something to hide even though they had never been late previously, wife was paye and husband was self employed. Rev auditor went back years on everything, business and personal.

It was much more than six years.

Yikes. Differs dramatically from my experience, but a good caution to others in this thread.