mandelbrot
Registered User
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The rights or wrongs of the current interest deduction rules don't really come into it.
I think they do, because in the case we're talking about, if the person isn't able to retrospectively backdate their PRTB registration, they are in serious trouble and this is why they may need both legal and tax advice. I don't want to scare people, but people could end up being financially ruined by this and I genuinely don't think that this was either Brian Cowen's or his officials' intention when they made interest deduction conditional on PRTB registration in order to encourage the latter.
Not sure I know exactly what you're asking nick, but:Sorry, slightly off topic..
How does Revenue know whether a tenancy complies with PRTB regulations if a tenancy need not be registered with PRTB ?
Just to take oldnick's point a bit further tho, how would the PRTB know if you were late registering a tenancy either? All you would need to do is put a recent date (within the last month) as the start date of the tenancy to avoid any penalties no?
No they don't. It can be completed online.The tenant has to sign the registration form as well AFAIK
The tenant has to sign the registration form as well AFAIK, so they'd have to agree to the charade, but if they do then you'll almost certainly be off the hook for the late reg fee.
There's the thing mandelbrot - the tenant does not need to sign this form. All they provide is their PPSN number. So I see no reason why any landlord would ever pay a late registration fee as there is no way to to prove it is ever late!
Not sure about Revenue - but if a conflict were to arise between LL an tenant, who's to say they wouldn't make a few calls....in fact, they could do this in the case of revenue also. It's probably unlikely - but from time to time (not sure whether read here or on boards.ie), I've come across posts where a disgruntled tenant is thinking in terms of doing this.Actually i'm still unsure how Revenue or PRTB would ever know whether a property was rented if a landlord kept quiet. How could Revenue actually see a tenancy that wasn't on any PRTB list -(if,indeed, they could even understand that rather messy list of PRTB. )
Not to mention the NPPR levy- I have a file where a client is buying a property where the NPPR levy was not paid, though it should have been, and the Vendor now has to cough up 2400 in levies and penalties.
It is precisely people like this that Revenue are targeting in their recent crackdown.
I am starting to feel very worried that I will be 'found out' and I fear what may happen. Am I thinking about it too much or what do others advise?
Are other people in the 'same boat' as me?
Any advice welcome.
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