anyone know about "Rent a Room Scheme"?

[maryr]

I'm a FTB who's intending on heading off travelling for eight months. I want to rent out the house for this period of time but the rental income will exceed the cut off for the Rent a Room Scheme.
I know people are renting out rooms and exceeding the annual limit but how are they getting away with it???
Does the fact that I wont be an actual resident in the house have any impact on my entitlement to partake in this scheme?
Does anyone know how intent the Revenue are in catching you out?!!
Any advice much appreciated

 

[ClubMan]

See here for info about the Rent a Room Scheme. It's pretty straightforward. In your case you need to ascertain if you will still be considered an owner occupier when travelling for an extended period of time in order to know that you are or are not entitled to avail of this scheme.

I know people are renting out rooms and exceeding the annual limit but how are they getting away with it???

You mean they are owner occupiers renting rooms in their PPR, collecting more than the rent a room threshold and not paying tax? If so then they are probably getting away with it (for now anyway) via good old fashioned tax evasion.

Does anyone know how intent the Revenue are in catching you out?!!

Revenue are not trying to catch anybody out. They just try to ensure that people discharge their tax liabilities as required by law.