If you earn rental income, we can help with your Self-Assessment and file an
income tax return for you. We provide a professional, affordable rental
income tax return service starting at €150 (+VAT).
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If you receive income from rental properties or holiday homes, then you must declare these properties to Revenue and file a tax return related to any income earned from those rental properties.
Should circumstances require you to move abroad and you intend on renting out your Irish property,
you will be classified as a Non Resident Landlord (NRL). There are particular rules for NRLs to ensure returns are submitted and non-compliance can have serious repercussions for both you and your tenants. Selfemployed.ie has extensive experience helping NRLs remain tax compliant and updating foreign landlords of their obligations.
If you obtain income from the rental of a property, this income must be declared to Revenue.
We help clients who’ve intentionally purchased a rental property and ‘accidental landlords‘, due to a change in circumstances. If you are in a situation where the property is ‘loss making’, it is still beneficial to complete a return, as losses can be used to reduce future rental profits (see here). Selfemployed.ie offer ongoing advice in relation to allowable expenses and revenue compliance, ensuring that you, the landlord, have peace of mind.
If you own a property abroad and obtain a rental income from this property, then as an Irish Resident,
this income is liable for Irish taxation. The usual deductions (see here) are allowable with the addition of any local property taxes paid in the location of the property.
There are many “Allowable Deductions” applicable to rental income tax which can be offset against your rental income. Selfemployed.ie helps uncover what you can claim for and file your tax return for a low fee starting at just €150 (+VAT).
The policy has to relate to the specifically to the rented property.
Losses incurred in previous years can be used to offset current year profits. However, the losses incurred have to be declared to revenue and ‘ring-fenced’.
Provided these expenses were incurred specifically in relation to the rented property, they are allowable deductions.
This cost which is currently €90.00 is tax deductible. More importantly it permits the landlord to claim the Mortgage Interest Relief allowance.
Accountancy fees are tax deductible, meaning that engaging the services of dev.selfemployed is an even more attractive option.
A landlord can claim 75% of the Mortgage Interest paid on a rental property. To do so, the landlord has to be registered with the Private Residential Tenancy Board (PRTB).
Engaging the services of a letting agent or a property management company are allowable expenses.
This a relatively complicated allowance but it can be summarised as writing off the cost of wear and tear of furniture and equipment, provided by the landlord, over a period of 8 years as opposed to all at once.
Landlords can benefit from this scheme through their tax credits. It relates to large scale construction work carried out after October 2014 on the rental property.
House Insurance related to the property is an allowable expense.
A tax deductible fee starting at €150 +VAT
Professional and efficient service
Experienced accountants processing your rental return
Initial registration for Income Tax
Experience helping previously undeclared landlords become tax compliant
Preparation of annual accounts relating to the property
Full compliance with all of Revenue’s requirements
Submission of Annual Return to Revenue
Advice and notification of budgetary changes and revenue practice that affect your tax position
Full review of any PAYE income you may have to maximise tax efficiency
Full Tax review of all income and professional advice regarding most efficient use of your tax credits
Notification prior to submission to Revenue of your liability or rebate
Selfemployed.ie not only helped me get a sizable tax rebate, but with their expert advice, made sure I avoided penalties and charges. Great advice, professional service, even better result! Now I don’t dread the thought of completing my income tax return.
Dara O’Donnell, Reluctant Landlord, Dublin
We provide professional rental tax advice appropriate to your circumstances.
To get started call, email or fill out our online form and one of our rental income tax return specialists will let you know what information we need to complete your Self-Assessment and file your income tax return.
Then simply register with us and provide details on your income and expenses, and we’ll take it from there. No fuss. No hassle.
Thank you for contacting us. A member of our team will be in touch very shortly to discuss your query.
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