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Landlord living abroad

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  • 24-10-2013 10:05pm
    #1
    terencemc
    Registered Users Posts: 531 ✭✭✭


    Hey y'all,
    Need your help with a question.
    Lets say I own a house and go abroad.
    I rent the house out for 20k.
    The tenants are obliged to pay 20% of the gross to the tax man as Im abroad. So does that mean I'm only taxed at 20% effectively - are there any other taxes im missing?

    Cheers


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    #2
    Cedrus
    Registered Users Posts: 1,429 ✭✭✭Cedrus


    terencemc wrote: »
    Hey y'all,
    Need your help with a question.
    Lets say I own a house and go abroad.
    I rent the house out for 20k.
    The tenants are obliged to pay 20% of the gross to the tax man as Im abroad. So does that mean I'm only taxed at 20% effectively - are there any other taxes im missing?

    Cheers

    That depends on your tax status and other earnings, if you're Tax Resident in Ireland, you'll have to settle the balance in october (payment or refund).
    If you're not Tax Resident (not as simple as not living here) you might get away with 20% but talk to an account and and you might get away with even less than that.

    Either way you'll have to pay LPT, fortunately NPPR is going next year but if you have retrospective liability you'll need to pay that too.

    Must be some house at €1667 a month.


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    #3
    sunnysoutheast
    Registered Users Posts: 2,072 ✭✭✭sunnysoutheast


    terencemc wrote: »
    Hey y'all,
    Need your help with a question.
    Lets say I own a house and go abroad.
    I rent the house out for 20k.
    The tenants are obliged to pay 20% of the gross to the tax man as Im abroad. So does that mean I'm only taxed at 20% effectively - are there any other taxes im missing?

    Cheers

    If non-resident for tax I believe you won't get personal allowances.

    If no tax return made you will not be able to claim mortgage interest relief, capital allowances etc.

    If renting house for 20k a year I would suggest a (tax-deductible) accountant would be well worth his/her fee.


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