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Rent a room

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  • 07-07-2018 9:33pm
    #1
    893bet
    Registered Users Posts: 8,980 ✭✭✭


    Couple of questions.,

    1) Donyou need to register in advance to avail of this scheme or just declare the following year the rent?

    2) If you stop do you then need to deregister?

    3) can you accept the rent in cash from the tenant, should it be lodged? Lodged I assume is better for a paper trail.


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    #2
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    893bet wrote: »
    Couple of questions.,

    1) Donyou need to register in advance to avail of this scheme or just declare the following year the rent?

    2) If you stop do you then need to deregister?

    3) can you accept the rent in cash from the tenant, should it be lodged? Lodged I assume is better for a paper trail.

    You don’t need to register anywhere. This is a revenue scheme. You do your income tax return and include the gross amount received during the year under rent a room relief.

    With any tax related matter it’s better to have paper trail and keep records for 6 years.

    You mention tenant but this person will be a lodger not tenant.they will have none of the rights of a tenant and can be asked to leave at anytime.


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