TRS to be returned to revenue

Hi guys,

I moved out & leased my apt & went travelling in 2012, haven't looked after it since.

After returning home I've realised that I haven't been eligible for TRS as I wasn't living in the property.

I know I will have to pay any relief I've received to the Revenue my questions are:

-Will there be interest charged on the amount owed?
-Will the Revenue expect a lump sum or are they flexible with payments like this?
-I'm presently job seeking & not working, are there any state benefits available to folks in my situation paying mortgages on investment properties?

I know a lot of people in this situation wouldn't declare their property as being leased but I'd like to keep everything above board & be as transparent as I can. I'd appreciate any advice!

Cheers,
C

As well as receiving TRS which you are not entitled to, there is also the matter of possible income tax due on the rental income.

I feel the Revenue will be more interested in that.

Also, don't forget the NPPR and the LPT, as well as registration with the PRTB.

Regarding TRS, I sent an email to them which took a month for a reply and they basically asked me when I moved out and calculated the money owed to them. I'm pretty sure there was no penalty clause as I took their word for what was owing. I would not think you will get fined for coming forward but I can't say that for definite. Regarding benifits, if you are means tested in SW then the rental income will be taken into account. Have you signed on and are you on benifit ?