Moving Abroad renting House

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ccbkd

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With the economic downturn, I am a construction professional, I have decided to take up an offer in the Middle-East in September, by luck I will have owned my own house for two years in September which I purchased as a first time Buyer, I have two good tenants whose combined rent is just under €10,000 which makes it tax exempt, I have agreed in principal to continue the same arrangement while I depart, Keeping my room in house when I am home in summer and x-mas months, I assume this has no implication on TFA and it won't be viewed as an investment property? also small things like ESB,Gas and House insurances are also an issue should I leave them in my name or switch to tenants?
 
ccbkd said:
Keeping my room in house when I am home in summer and x-mas months, I assume this has no implication on TFA and it won't be viewed as an investment property? also small things like ESB,Gas and House insurances are also an issue should I leave them in my name or switch to tenants?
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You are going abroad to work of your own volition so it seems to me that you cease to be an owner occupier which does have tax and other (e.g. mortgage, insurance etc.) implications which are covered in many similar threads which you can find by searching. You probably need to get professional advice.
 
Hi, I have just moved to Holland and am renting out my house in Ireland. Everything is above board, registered with PRTB, have a managing agent etc. However I am confused as to when I need to do my tax return. House was rented from 1st August - do I therefore need to do a return at end Dec of this year for the four months? Can anybody point in the right direction of what I need to do/forms that need to be completed etc? Thanks!
 
No, you should file a tax return by September 2010 for the income earned this year (Aug-Dec). Just keep ALL your receipts and things ready for your return next year. No need to worry about the return just yet :)

Edit: You just escaped the liability for the 200 euro NPPR charge for this year. Next year you'll need to bear that in mind too.
 
thanks so much, I was worried as I don't want to miss any deadlines. Good news about the NPPR charge for this year! So its sort of done in arrears then? I file 2010 income in 2011? Have a I got that right?
 
Isn't there something about the tennants in the house having to hold back the tax amount because the landlord is based abroad?

Just seem to have a recollection around that - I think you need real tax advice to cover all bases.
 
Far better if at all possible to get a family member to act as agent (revenue will assign a new PPS number to the agent for this purpose in application) and just keep the tenant out of your tax affairs. It can get messy and most tenants don;t want to be involved in it anyway.

Once you have a trusted family or friend acting as agent you can do the return for them and just ask them to sign it.
 
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