Over pay mortgage

[JMW]

Hi
I'm renting out my primary residence in Ireland while I'm working overseas.
Just recently the rent is more than the mortgage.
I'm on a tracker with KBC
I'm receiving 150 a month extra in rent v mortgage.
Would it be wise to overpay on my mortgage or am I liable to some tax on the extra ?
Thanks

 

[Sarenco]

Hi JMH

Provided the tenancy is registered with the PRTB, you are entitled to deduct 75% of the interest payments on your mortgage (together with certain other costs) in calculating your taxable rental profits (you are not entitled to a deduction in respect of any principal repayments).

As a non-resident landlord you should have a tax agent in place or a 20% withholding applies - there are a number of posts here with the details.