NPPR charge - is this tax deductible?

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suicra05

Registered User
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Hi,

I was wondering about the NPPR charge on investment properties. Is this charge tax deductaible?

Thanks
 
I brilliantly argue in that thread that it is a deductible expence. Anyone who disagrees with me is obviously wrong. Except my wife.

But in case I'm wrong and you do claim it then so what?
You don't have to detail expences on your tax return. Revenue only look at a breakdown of your accounts in the one in a thousand chance of an audit .
And what'll happen then if they see you've deducted the cost.?
You can genuinely state that you thought it was an expence as you have seen nothing to the contrary and that the Revenue guide would lead one to believe it is deductible.
So, OK, the worst that'll happen will be payment of the tax due on that cost.
 
oldnick said:
I brilliantly argue in that thread that it is a deductible expence. Anyone who disagrees with me is obviously wrong. Except my wife.

But in case I'm wrong and you do claim it then so what?
You don't have to detail expences on your tax return. Revenue only look at a breakdown of your accounts in the one in a thousand chance of an audit .
And what'll happen then if they see you've deducted the cost.?
You can genuinely state that you thought it was an expence as you have seen nothing to the contrary and that the Revenue guide would lead one to believe it is deductible.
So, OK, the worst that'll happen will be payment of the tax due on that cost.
Click to expand...

...plus interest and penalties if you don't accompany your return with an "expression of doubt"

Extracts from Accounts Form 11/ CT1

This article updates a similar article in Tax Briefing Issue 53 (August 2003) regarding completion
If I am unclear or uncertain of the technical basis for the analysis of certain items (for example, whether an item of expenditure constitutes a repair of capital expenditure, or where there is a doubt regarding items in the provision for bad debts), do I need to make an expression of doubt in relation to the figure provided on the accounts menus? If there is an expression of doubt, under Section 955(4) TCA 1997, this should be dealt with as before, i.e., noted in the 'Personal Details' panel (line 21) of the Form 11, or the 'Company Details' panel (line 1.16) of the Form CT1. 14.... Date:21/01/2011 (Size: 54k)
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Only reason to accompany a return with expression of doubt is if there is doubt, uncertainity or lack of clarity on a point. I have no worry or doubt about claiming NPPR unless Revenue advise otherwise in any easily obtainable information/advice source and I base my claim on their own advice.
That is, I am not knowingly making a return about which I have any doubt.
But even if they disagree with my belief I am convinced that the worst that will happen is that I pay the tax.
 
Revenue's unfortunate failure to date to publish definitive & rigorously-argued public guidance on this topic would imho leave them in a poor position to enforce interest and penalty charges on any taxpayer who mistakenly or otherwise claims deduction for NPPR fees.
 
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