Non-Resident Landlord. No RAN, how much to pay

P

puppy

Registered User
Messages
15
Obviously I'm an idiot for leaving it too late. But my plan is at least pay what I owe tomorrow and hope for the best after that when I get a RAN/Registered for ROS.

Started renting out our old family home in Jan-12 when we left Ireland. We have no other income in Ireland. Our tenants have not been deducting at source so nothing has been paid to date.

Figures are as follows (basically the same for both years)

Gross Rent: 9900

Mortgage Int (75%) 7300
Insurance: 600
Estate Agent fees: 720

Profit 1280

How much should I pay for 2012/preliminary 2013 based on this.
 
Without getting into a long winded discussion on the tax credits x Irish income / worldwide income, the income tax rate is 20% of the profit.
 
puppy said:
Gross Rent: 9900

Mortgage Int (75%) 7300
Insurance: 600
Estate Agent fees: 720

Profit 1280

How much should I pay for 2012/preliminary 2013 based on this.
Click to expand...

It will be highly unlikely you have any liability, where is your life/term insurance, wear and tear, repairs, gardening etc.

More importantly have you registered for PRTB and paid your NPPR and household charge. NPPR is particulary nasty if left unpaid for even short periods of time.
 
That's a great link Tommy, can I put it up in the key post on rentals?

Have you had a look at the way revenue are now linking NPPR and household charge to the LPT? You mentioned how onerous the penalties for NPPR are, but it's also going to be worse going forward for the LPT as the surcharges will be on all income, not just rental.
 
Yes, put up the link by all means.

Thanks for the tip - I hope to update it shortly - the tax deadline is consuming all resources right now. :eek:
 
Bronte

Yes to PRTB, NPPR and household charge. Really agree that NPPR does escalate quickly.

Thanks all. Please God this won't be too painful by the time It is all sorted.
 
You must log in or register to reply here.
Back
Top