Non Resident Landlord Tax Rate

[Whatever123]

I recently asked my accountant to fill in the Form 11 for my Tax Return and he is saying that I will need to pay Tax on Rental Income at the 40% Tax Band abouve 36,800.
Is this corect. I thought the Tax Rate was 20%.

 

[T McGibney]

Normal tax bands apply to non-residents.

 

[ClubMan]

How do you calculate your taxable income?

This page tells customers how to work out what portion of their income from renting is taxable

www.revenue.ie

 

[Munster1976]

I was checking this yesterday. The tax rate is 20% for non-resident landlords. But I read that the non-resident landloard is also liable for the USC (universal social charge). That was new to me. Anybody have information on how that is paid?

 

[RedOnion]

I was checking this yesterday. The tax rate is 20% for non-resident landlords.

Really? Where did you read this? Because it's wrong.

 

[Munster1976]

"This is currently at the standard rate of 20% from rental payments to non-resident landlords and must be remitted to Revenue."
Link: https://www.revenue.ie/en/property/... currently at the,must be remitted to Revenue.

 

[T McGibney]

That's the deduction rate, charged on gross rent.

The tax rate is calculated using normal single tax band equivalents and is charged on net rental profits.

Get professional assistance if you're unsure how to handle a real-life situation.