Help on form 11e for rental income for PAYE employee

[martha_cork]

hi all,
I started renting out my house in sept 2011 and only had tenants for 3 months. Am a bit lost and freaked out trying to complete the 11e form.

Mortgage Interest for the year was 9388........as I only had the house rented for 3 months, how much of this can I actually put in as expenses ?

I also did some work in the house between this letting and the next (feb 2012).....new worktop in kitchen, new oven etc ....can these type of expenses being included ? (I was not living in it during this time)

also a question on section D for PAYE, do I only complete 229-231, working for USA multinational.

appreciate the help!
M

 

[mandelbrot]

Well first thing's first, are you sure that you need to file a form 11?

Unless your net rental income is greater than 3,174 then a Form 12 will do.

Re mortgage interest, only 75% is allowed as a rental deduction, and you should time apportion it i.e. take 4/12 of the annual interest. However in order for interest to be allowed at all, the tenancy must be registered with PRTB...

The new worktop and new oven are capital items, not expenses. The cost of them can be written off over 8 years, as a wear & tear allowance.

There's a decent guide to rental income here: http://www.mcgibney.com/tax_on_rental_income.htm

 

[martha_cork]

thanks for the info. yep revenue sent me 11e form (share options etc in work also).
got it on the 75% of interest and only 1/3 expensable.

yeah saw the info on capital expenses, didn't know about that, cheers !

do you know on the PAYE section if I only need to fill in 229-231, USC and PAYE sections. Not sure about first part of section D .....212 "GRoss amount of income from Irish employments, offices and non proprietary directorships subject to PAYE". reads like chinese to me

thanks again, appreciate the help
M