Forced landlord, not doing what I should be

Is BER the energy rating thing John? Why do you need that? You can deduct mortg protection premium as well as house insurance premium. Cost of reg with rtb (€90) and any repairs you miggt have paid for and have receiots for.

Cliqueentour, you say you pay 30% effective tax that seems very high. What expenses are you missing? Perhaps house is mortg free and so no int deduction? Or rent is very high?
 
It is Jim,BER is the energy rating. I thought I needed that to register with RTB, I will ask them to confirm but pretty sure its needed. Gonna get it done either way as I've asked an old friend to do it for me who works in that area. You've reminded me Jim I need to put BER and RTB registration in my 2018 calculations.

Cliqueentour, that seems very high to me too. Only thing I can think of is that the property is almost paid back or maybe you are not claiming for all that you are allowed to.
 
I didnt think you needed ber thing for rtb reg but could be wrong. I dont recall having it and im reg with them.
 
I've never had a BER in all my time registering with them but I have outsourced since so it may have changed recently.
 
Question on the capital allowances. What happens (as in my case) where you bought a property inclusive of furniture, so I have no receipts. Can I claim cap allowance on that?
 
Aristotle, im fairly sure you need receipts for items purchased. If they were already in the house then they arent capital additions and so cap allowances dont apply. Also if they were part of the house when purchased then they were probably factored into purchase price.
 
jim said:
Aristotle, im fairly sure you need receipts for items purchased. If they were already in the house then they arent capital additions and so cap allowances dont apply. Also if they were part of the house when purchased then they were probably factored into purchase price.
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I do not think this is correct.

Items subject to the capital allowances which were in the house at time of first letting can be charged at an appropriate cost. I.e. sofa €1,000 new, 2 years old at first letting, estimate value €400, capitallowance 12.5% of €400.
 
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John purchased the furniture and white goods etc. Of course ideally he should have receipts, failing which a reasonable valuation of them in 2013 will be fine. Like are revenue this picky. In any case all of you are forgetting, he’s only supposed to keep receipts for 6 years. So if he declares on Jan 1 he doesn't need receipts. But this is ridiculous, his house has wear and tear items. Revenue deal in reality and are reasonable, in general.
 
JohnMc said:
Thanks all, I thought you needed BER for RTB registration. Good info.
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You don’t, in fact for you it’s a waste of money. You will need it if you sell. And yes, you’re supposed to have it. It is a couple of hundred euro to tell you to energy bulbs are good and put a duvet on the the hot water tank. And double glazing is better than single. They even had/have courses to teach you this to qualify you to state these facts. In a certificate - the BER.
 
BER guy / friend cancelled. Saving of 125.
Tenants told to put duvet on hot water tank. Grand
 
Next time I see my friend who is telling me all this incorrect info will get a harsh word in his ear nonetheless.
Bronte: Thanks for advice. Trying to make a good stab at the Cap All W&T stuff, checking to see what is allowable. Will get on it.
Spent a lot of free time today looking through emails to work out when tenants moved in and out etc, looks like 2 rtb regstrations needed. Take it on the chin.
 
Capital Allowances (wear & tear)
Entrance and stairs 0
Living Room Sofa 500.00
TV 400.00
Table 200.00
Satellite 200.00
Kitchen Sofa 400.00
Table 800.00
Music equip 150.00
Kitchen fittings (sink, cupboards) 1,500.00
Cooker and oven 400.00
Fridge 500.00
Dishwasher 300.00
Bedroom 1 Ensuite Bed and matress 500.00
Sink, shower, toilet 1,000.00
Sliding wardrobes 2,000.00
Carpet 300.00
Bedroom 2 Bed and matress 500.00
Wardrobe 300.00
Carpet 200.00
Bedroom 3 Bed and matress 500.00
Wardrobe 300.00
Carpet 200.00
Bathroom Bath 300.00
Toilet 200.00
Sink 200.00
Electric shower 300.00
Toilet downstairs Toilet 200.00
Sink 200.00
Electric fan 100.00
Balcony Outdoor table and chairs 500.00
BBQ 250.00
Total 13,400.00
W&T allowance 0.125
Annual W&T deduction 1,675.00
 
The W&T allowance is not available for items which are part of the property. I think Kitchen fittings, sliding wardrobes etc would not qualify.
 
Like doors and things like that. But I though that would be classed as fittings, maybe I'm wrong on that. Thanks cremeegg.
Not 100% sure renter45 but Bronte was saying Revenue take a reasonable view and would not look for receipts for everything. Although of course I wont even have receipts for a lot of them as when I bought the place some of these things were in there when I got it and lived in it as my PPR. But when I started renting the place out, these items have a value which I have given them which I can claim W&T as a deduction. This is my understanding, could be wrong.
 
JohnMc said:
Like doors and things like that. But I though that would be classed as fittings, maybe I'm wrong on that. Thanks cremeegg.
Not 100% sure renter45 but Bronte was saying Revenue take a reasonable view and would not look for receipts for everything. Although of course I wont even have receipts for a lot of them as when I bought the place some of these things were in there when I got it and lived in it as my PPR. But when I started renting the place out, these items have a value which I have given them which I can claim W&T as a deduction. This is my understanding, could be wrong.
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I think this is an interesting question. I thought that one needed receipts to support any cap allowance claims but others have suggested that this may not be the case. If it isn't the case then I will be amending my form 12 and adding in a huge chunk for cap allowances.
 
jim said:
I think this is an interesting question. I thought that one needed receipts to support any cap allowance claims but others have suggested that this may not be the case. If it isn't the case then I will be amending my form 12 and adding in a huge chunk for cap allowances.
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I queried having no receipts a few pages back and cremeegg said nope. Again similar position for floors, carpets, blinds installed when PPR but then rented out a few years later, (no idea where recipts are but still know how much it all cost)
Cremeegg are you speaking from personal experience with revenue or your own interpretation of the rules?
 
Some people have said getting an accountant that deals with this on a daily basis. So that's what I will do but trying to bring it up to as near complete as I can first and hopefully the accountant will be able to add some value and shine light on a few things or mistakes I have made. Accountancy fees can be used as a deduction too.
 
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