Revenue are starting a crackdown but if you do it cleverly enough, it's very hard for them to nab you.
It would be a boost to the coffers if there was a deficit in govt spending.
I don't think it's that hard. All it takes is for one of the previous tenants to apply for rent relief (can be done up to four years after the relevant tax year and Revenue are only too happy to process these even if they're missing some details such as the Landlords ppsn etc.). As a previous poster said if the tenant had any letters sent to them during their tenancy then that's proof that they were residing there.Revenue are starting a crackdown but if you do it cleverly enough, it's very hard for them to nab you. For example, your friend collected the rent in cash every month so there's no way (that I know of) for them to prove he had tenants. He probably had bills in his name as well which would 'prove' that he lived there.
I don't think that would work as you're still supposed to declare it every year (even if you don't have to pay tax on it).If they did come knocking he could claim that he was doing the 'rent a room' scheme - I think you can charge rent of up to €700 per month without having to pay tax on it.
There are hardly that many people stupid enough to evade with so many legitimate ways to minimise the tax bill. for rental income.
Presumably tenants need notification of their tax credits sent to their address. If they are students, their college needs to send information on registration etc. Just because the landlord has the bills in his/her name, it does not mean that tenants have not supplied the address to other official bodies.
The rent a room scheme is exempt up to alimit of 7,620 per annum. If anyone charges above this, they are liable for income tax on the entire amount not just the difference.
rmelly said:and is only applicable to PPR
He can only claim TRS on his PPR. I assume Revenue can tie this in to a PPS number. I'd say it's more likely that he's evading income tax. I'd say quite a number of tenants claim rent relief retrospectively.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?