I am a bit confused as to what to do with the 2018 Preliminary tax payment on the 2017 return. I have been renting an apartment since 2011, tax up to date and now in the process of completing return for 2017 income (am PAYE and this is the only source of additional income)However, the tenancy ended end in August 2018 and the apartment is about to go on the market (accidental landlord - delighted to be finally escaping the whole thing). Clearly my tax liability for 2018, if any when I factor in management fees, €2000 plumbing repairs etc., will be a lot lower than 2017 and nowhere close to 90% as required under the Preliminary tax part of the return.
Does anyone know how Revenue view the final year of rental income for preliminary tax purposes? Any advice/suggestions welcome.
Does anyone know how Revenue view the final year of rental income for preliminary tax purposes? Any advice/suggestions welcome.