Hi,
I own a house with my sister, which we both used live in as our primary residence. I married and moved out and own another house with my husband. we never sold the first house. My sister continues to live in our shared house with her husband. He pays me some rent to contribute towards my mortgage repayments for this house. Can anyone advise, if this rent is below the threshold for the rent-a-room allowance, does it have to be declared as income to the revenue. And if so, would this income be subject to income tax? Does this house now count as a second property for me, and should I be paying the second home property charge.
Any advice would be much appreciated.
Thanks.
I own a house with my sister, which we both used live in as our primary residence. I married and moved out and own another house with my husband. we never sold the first house. My sister continues to live in our shared house with her husband. He pays me some rent to contribute towards my mortgage repayments for this house. Can anyone advise, if this rent is below the threshold for the rent-a-room allowance, does it have to be declared as income to the revenue. And if so, would this income be subject to income tax? Does this house now count as a second property for me, and should I be paying the second home property charge.
Any advice would be much appreciated.
Thanks.