Can I offset rent paid against rent recieved?

C

chops

Guest
Hi,

I currently rent out my house and am moving into an apartment.

I plan to get my current tenants to pay my new landlord directly.

My question is therefore do I have to declare this portion as rental income?

For instance;
I receive €1000 in rent.
My apartment costs €800.

Therfore am I correct in assuming I only have to declare €200 rental income
as this is all that goes into my bank account.

Regards,

C.
 
No.

Can you ask your employer to buy your groceries in order to reduce your PAYE?
 
There is little or no chance that your Landlord will accept this method of payment. I cannot see any saving in this for you. You will have to account to Revenue for the rent you receive less the appropriate deductions. You will need to register the house you are letting with PRTB. You will need to inform your insurer that it is let and possibly your mortgage provider. You will need to pay the NPPR plus the Household Charge on the house you own. You will not be able to claim for any of the rent you are paying from the rent you are receiving as a way of reducing your tax bill
 
If only life were so simple.

These are 2 totally seperate and unrelated situations and must be treated as such

I cannot imagine any landlord agreeing to such a senario
 
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