hello everyone, this is my first post, i just found this site and its an absolute wealth of information, definately one to be bookmarked... anyway i have just bought a nice 2 bedroom apartment and have decided to rent it out and i want to declare the rent and do it all legit. i have been on the revenues website but there really isnt detailed information on there and was wondering if some of you lovely people could answer a few questions for me:
1.... im currently getting 177 euros interest relief on my mortgage(i bought the apartment as an owner occupier with the intention of living there but my personal plans changed), when i rent it out will i still be entitled to this or will i loose it? this is my only property.
2....Can someone tell me when is the closing date for tax returns to be made to revenue regarding rental income
3.... Also id like to know a ballpark figure what an accountant will charge me to do mt tax returns on my property, i am also a PAYE emplyee for a company
4....im currently getting 950 euros per month for the rent which is 11400 per year, how much will my gross tax be for the year before i write off my expenses
5..... will i be liable for PRSI and if so how much? (my yearly gross rental income will be 11400 as stated above)
and last of all people, can anybody recommend a good accountant to me who is both reasonable and well experience/qualified, i opened the golden pages but there are so many and i dont really know where to start
thanks in advance
Alan
1.... im currently getting 177 euros interest relief on my mortgage(i bought the apartment as an owner occupier with the intention of living there but my personal plans changed), when i rent it out will i still be entitled to this or will i loose it? this is my only property.
2....Can someone tell me when is the closing date for tax returns to be made to revenue regarding rental income
3.... Also id like to know a ballpark figure what an accountant will charge me to do mt tax returns on my property, i am also a PAYE emplyee for a company
4....im currently getting 950 euros per month for the rent which is 11400 per year, how much will my gross tax be for the year before i write off my expenses
5..... will i be liable for PRSI and if so how much? (my yearly gross rental income will be 11400 as stated above)
and last of all people, can anybody recommend a good accountant to me who is both reasonable and well experience/qualified, i opened the golden pages but there are so many and i dont really know where to start
thanks in advance
Alan