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Rent-a-room scheme - no tax up to 12K even for self employed house owner ?

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  • 15-07-2015 3:26pm
    #1
    worded
    Registered Users Posts: 4,579 ✭✭✭


    Im self employed and thinking of renting a room in house I own.
    Ive heard its 12K PA tax free. Does this apply to me as self employed or is it PRSI owners only?


Comments

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    #2
    Victor
    Registered Users Posts: 78,423 ✭✭✭✭Victor


    It has to be your own private residence. It doesn't matter what your employment status is.


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    #3
    worded
    Registered Users Posts: 4,579 ✭✭✭worded


    Victor wrote: »
    It has to be your own private residence. It doesn't matter what your employment status is.

    It is yes, so great.

    Do you happen to know ....

    If the other person sharing is self employed as well can they claim for "office space" as well as myself.

    They have their own Living area as well which could be used as such.


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    #4
    Victor
    Registered Users Posts: 78,423 ✭✭✭✭Victor


    worded wrote: »
    If the other person sharing is self employed as well can they claim for "office space" as well as myself.
    What about rates (much higher than local property tax)?
    They have their own Living area
    That doesn't sound like its your principal private residence (PPR).

    The above sounds like shenanigans precarious and advice from an accountant or solicitor would be important.


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    #5
    worded
    Registered Users Posts: 4,579 ✭✭✭worded


    I own my house, Im self employed.

    Nothing dodgy.

    I can claim part as an "office" if I want I believe, perhaps Im wrong.

    Just wonder if 2 can is all.


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    #6
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 22,385 CMod ✭✭✭✭Pawwed Rig


    'Office space' in a house is an area that we recommend people stay away from. For a start it affects the CGT relief of a PPR never mind council rates etc.


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    #7
    worded
    Registered Users Posts: 4,579 ✭✭✭worded


    Pawwed Rig wrote: »
    'Office space' in a house is an area that we recommend people stay away from. For a start it affects the CGT relief of a PPR never mind council rates etc.

    OK scrap that, I will use my laptop out side the house or in the car !

    I will bear that in mind thanks


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    #8
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,507 Mod ✭✭✭✭johnnyskeleton


    worded wrote: »
    OK scrap that, I will use my laptop out side the house or in the car !

    I will bear that in mind thanks

    I think he means dont claim a tax expense for your home office or there could be tax implications. Using a room in the house to do work isnt itself a problem.


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    #9
    air
    Registered Users Posts: 2,822 ✭✭✭air


    worded wrote: »
    OK scrap that, I will use my laptop out side the house or in the car !

    I will bear that in mind thanks
    No need to go that extreme, work from home away, just don't claim any expenses related to your house - light & heat etc.
    In theory you can but revenue are a total law unto themselves when it comes to the self employed so its easier to forego the allowances, they're a pittance anyway.


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    #10
    worded
    Registered Users Posts: 4,579 ✭✭✭worded


    Thanks


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