Things are not that bad regarding liabilities here. If you rented out a year ago in say May 2011, your tax liability is not due until October 2012 so no panic just yet. Fill out the Form 12 by then and as Liam mentioned you are probably not liable for any tax there but you still need to send in the form. You can also carry any losses forward so chances are you do not owe any tax for a few years anyway. Send an email to the TRS asking for it to be stopped. If the house was not rented in March 2011 then you are not liable for NPPR for last year. You have until June this year to pay this years money of €200. You household charge is €110 or so for this year also. You will have to return the TRS for the last year but they will just send out an invoice first and as long as you pay on that warning they will most likely not add any fines. Your next step is to approach your lender and ask for a longer mortgage or interest only till you get a chance to asses your situation down the line.