New landlord... liabilities/exposure advice

N

nailler

Guest
Hi,

A little bit complicated this one.
* Bought my property with a partner 4 years ago
* Bought partner out 1 year ago (no stamp duty liability, some loop hole)
* Now wish to rent out the property

The mortgage on this place is around 1,600 p/m, after tax credits this is down 300 odd euro. I wish to rent the apartment for between 1200 and 1400.

Am I liable to pay tax, I will be leaving the country on a sabattical also for 6months of this year of renting out?

Am I exposed to any stamp duty stuff does anyone know.

Looking forward to some advice, maybe someone has been through something or knows someone who's been in these circumstances.

Cheers
 
You must register any tenancy with the PRTB. You must also make a tax return in respect to your property. You do get credits for wear and tear on fixtures and fittings so you may not have to pay tax but you are required to declare this income.

Can't help with the SD question alas.
 
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