LANDLORD TAX RETURNS
Do you have Rental Income?
If so, you are required to file an income tax return annually. We prepare tax returns for landlords with property in Ireland, or abroad. There are many expenses you can claim against your rental income, in order to reduce your tax liability. We do a thorough check, to ensure that you are in receipt of all your available allowances. We make sure you are tax compliant, and file your return on time.
WHAT LANDLORDS MUST FILE A TAX RETURN IN IRELAND?
Foreign Rental Income
EXPENSES YOU CAN CLAIM FOR
Repairs and Maintenance of the Rented Property
Painting, electrical, and general repairs can be offset against rental income
In 2017, 80% of the interest on your mortgage can be offset against your rental income. You must be registered with the PRTB to avail of this relief.
Mortgage Protection Insurance
For the rental property
Prior Year Losses
If you incurred a loss on your property in previous years, you can offset this loss, against any profits gained in this year.
Home Renovation Incentive Scheme
If you are carrying out significant repairs, renovations and improvements to your rental property, you can claim 13.5% vat back, up to a maximum of €30,000.
PRTB – Private Residency Tenancy Board
The €90 fee will reduce your tax liability.
Great news, Clear Group fees are tax deductible as part of your return
Property Management Fees
If you pay annual fees to a property agency, these fees are deductible
Estate Agent Fees
If you have worked with an agent to find a new tenant.
Capital Allowances (Wear and Tear)
Furniture, fixtures and equipment can be offset against your rental income. This relief is spread over 8 years at 12.5% per year.
For drawing up rental leases
LANDLORD TAX RETURN SERVICE
Why not contact us today or leave us your details, and we will contact you to get your return started