Form 11 - Foreign Rental Income

I am currently filling my first tax return and wanted to clarify some things around the foreign rental income I have. The property is in Poland (EU) - I am Polish citizen but have been working in Ireland for 10+ years so Irish resident for tax purposes.

I assumed that I pay the tax on rental income in Poland since the property is based there. Reading up on it now (including some posts on this forum) I understand that I was wrong... So now I have to declare that on my Form 11 (2015 was actually the first year I let that property). Some questions about that:

- is any rental income (minus expenses) considered as PAYE income for tax? Is both PAYE and USC apply to it?
- I have already paid tax in Poland for 2015 (and started paying for 2016...) - can that be deducted from any outstanding tax I owe Irish revenue for this?
- I didnt make any expense deductions in Poland when paying tax - does that mean I can make any allowable deductions here when doing tax return?
- should I actually stop paying tax in Poland for this and just sort it out with revenue going forward?

And most importantly, any figures I will be operating on are in different currency (Polish Zloty - PLN). I have seen a table with exchange rates for 2015 on revenue website but there is no PLN on it? I also saw an exchange table for "Customs" on their website and PLN is on it, but there is a table for each month in 2015 - which one should I use?

Thanks in advance.

http://www.revenue.ie/en/tax/it/leaflets/res1.html

Check out resident but not domiciled and the remittance basis of taxation.

Joe, thanks a lot for your reply.

When I was looking into that before I was confused by the term "domiciled". I assumed that since I have been living in Ireland for 10+ years I am actually considered to be domiciled. Given that I am actually planning to go back to Poland at some stage (thats why I bought the property in the first place) I suppose you could say I am non-domiciled resident - is that something Revenue can question tho?

Also, if you wouldnt mind confirming for me, If I tick the box that I am non-dom resident on Form 11, then I just need to fill our rental income/tax details section and thats it, I should not include that in any further tax calculations?

Thanks in advance.

Prezes said:

Also, if you wouldnt mind confirming for me, If I tick the box that I am non-dom resident on Form 11, then I just need to fill our rental income/tax details section and thats it, I should not include that in any further tax calculations?

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I have the same question as Prezes. Does he even have to fill out the foreign rental income in this case if it was not remitted?

StJames said:

I have the same question as Prezes. Does he even have to fill out the foreign rental income in this case if it was not remitted?

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You don't need to resurrect multiple threads. Your question has already been answered the first time you asked: