first time rental tax return 2015 or 2016

O

olivia56

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I rented my apartment for the first time in May 2015, I've been told by a friend I don't have to do a tax return until Oct 2016. just wanted to confirm this is correct.

many thanks
 
That is correct. You submit a form12 anytime after Dec 2015 and before October 2016
 
Depending on the amount of rental income (after expenses are deducted) you may need to submit either a Form11 or a Form12.
If the net rental income is less than €3174 and you also have PAYE income you can submit a Form12.
If the net rental income is greater than €3174 you would have to submit a Form11, regardless of whether you also have PAYE income or not.

Luckily, both of them are only due for filing in October 2016.
 
If OP has to file a Form11 under self-assessment, then yes she will have to file to 2015 tax return in Oct 2016 and also pay preliminary tax for 2016 at the same time.

But if her rental income (after exps) is low enough she will just be filing a Form12 (no preliminary tax needed). Provided that her only other income is paye.
 
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