prtb late payment

zxcvbnm

Registered User
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I am selling 3 investment properties.

I see only 1 of them listed on the PRTB website. It's possible i forgot to register the others years ago- (although i didnt think i did.)It was back in 2005.

I am aware you can register late with a late fee.
But am I correct in thinking that s only for properties that were originally registered at some point (i.e. late fee is in fact for later renewals - as opposed to late initial registration)

I am afraid to ring up PRTB in case i put myself on their radar.

Obviously the penalty for not being registered is not being allowed claim interest as a tax relief over the years. (which would be thousands for me)

So - i have 2 specific questions:
- Can i late register a property (as opposed to later renewal)
- If i cant, and i am forced to pay the revenue the charges,would teh monies owed simply come out of the sale of the properties?
 
Same thing probably happened you as happened me - I didn't realise that your PRTB registration expires after 4 years - I have had same tenants in a property for 8 years now and only discovered accidentally in 2012 that the registration had expired - I thought you'd only have to update it if the tenants changed.

So you may have had valid registration for 2005-2009 and only be out of compliance for 2010-2012 (assuming 2013 return not done yet)

As regards the tax coming off the sale, I doubt it, I doubt solicitors will delve into prior income tax when dealing with CGT calcs or whatever.
 
With regard to late registering, I can't see any time limit for late registering , i.e. I can't see if it makes a difference if you're two months late or two years late, so if I were you, I'd register now for 2010 onwards and pay the late fee and consider myself compliant!
 
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