Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Rules and Regs for a landlord

Options
  • 20-11-2009 8:57pm
    #1
    Shoes&Frocks
    Closed Accounts Posts: 29 ✭


    I have a 2 bed apartment that i want to rent out. I have recently moved out and moved in with my boyfriend and my apt is vacant. Since i moved out i have had a bit of interest but i want to have everything above board before i rent it. My questions are;

    1. Do i register with the PRTB?
    2. Do i pay tax on the income (even though it will be less than €10k / year)
    3. How do i even go about paying tax on it, is registering with the prtb enough for revenue to become aware that i'm renting?

    Sorry, my questions are probably ridiculous but i'm new to this and need information in easy to read concise points!!!

    Thanks for any help you can give me.


Comments

  • Options
    #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Shoes&Frocks wrote: »
    I have a 2 bed apartment that i want to rent out. I have recently moved out and moved in with my boyfriend and my apt is vacant. Since i moved out i have had a bit of interest but i want to have everything above board before i rent it. My questions are;

    1. Do i register with the PRTB?

    Yes, it's an offence not to.

    2. Do i pay tax on the income (even though it will be less than €10k / year)

    Yes, the apartment is no longer your Private Dwelling Home (PDH). You can only claim the rent a room scheme if you're renting out rooms in your house whilst it being your PDH.

    3. How do i even go about paying tax on it, is registering with the prtb enough for revenue to become aware that i'm renting?

    No, you must make a return to the revenue each year. As a landlord, you are entitled to a number of tax credits / allowances to reduce your tax bill.An accountant can make a return for you if you're not sure.

    Sorry, my questions are probably ridiculous but i'm new to this and need information in easy to read concise points!!!

    Thanks for any help you can give me.

    .


Advertisement