For rent a room relief at the point it no longer becomes the place where friends and family would expect to find you. So in your case basically straight away.1) at what stage does my apartment cease to be my Principal Private Residence?
It becomes taxable as normal income and this depends on when exactly you move to the UK.2) Lodger income currently tax free. Will that tax status change when I move abroad?
It depends on whether the lodger has the status of tenant or licensee. For a stereotypical lodger they are most likely a licensee. They would retain this status if say for example owner kept keys, own room, and a right to come and go when back in Ireland. A licensee has very few rights and essentially has to leave on demand.Given the difficulty in regaining possession of your home when you return, you might be as well to give your lodger notice & leave the apartment empty while you are away.
After 6 months of sole occupation I'd be pretty sure the lodger could successfully claim a part 4 tenancy.depends on whether the lodger has the status of tenant or licensee.
Sure, but probably not if homeowner retains access and exercices said right. I'm not an expert here and open to correction of course.After 6 months of sole occupation I'd be pretty sure the lodger could successfully claim a part 4 tenancy.
I think this is right, certainly if they were minded go the RTB with a case they would be granted a part 4 tenants and you never know who would lake a case, in the current market they might feel they have no option.After 6 months of sole occupation I'd be pretty sure the lodger could successfully claim a part 4 tenancy.
What do you mean exactly? Your assertion is wholly predicated on the assumption and the unlikely (and it is statistically very unlikely) event that the tenant refuses to vacate. Get real lads and stop this constant AAM scaremongering. Ridiculous.Given the difficulty in regaining possession of your home when you return,
So what? One incident reported by the Irish Times last December. Hardly a tsunami of such incidents?‘I’m a homeless homeowner’: The apartment owner who is now couch surfing
Jeanette Brown believes there should be amendment to the Act to allow for situations such as herswww.irishtimes.com
If they're getting out of the property rental business because they can't evict their tenants and move back into the property as their PPR then they were getting out of the business anyway.Funny how so many property owners are getting out of the business citing exactly this issue.
You can qualify for full CGT relief if you move abroad for work and then return to the house and occupy it again as your PPR. See section 3.8 here.I think if you are moving with work, there is some exemption where the house can still be classified as your PPR, not sure of exact rules, but maybe Google search might throw up something.
CGT?You can qualify for full CAT relief
Sorry, corrected nowCGT?
Quite. So advice to OP stands.If they're getting out of the property rental business because they can't evict their tenants and move back into the property as their PPR then they were getting out of the business anyway.
Of course some are. And we hear about it on this forum. Many arent. We dont hear so much from them. Dont believe the hype and try and keep an open mind.Funny how so many property owners are getting out of the business citing exactly this issue.
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