registering a rental property and tax

A

apkh66

Guest
Hi All
New to this so bear with me. I acquired a property some months ago and rented it out. I was unaware of the need for registering etc. and now my tenants wish to apply for rent supplement which has led me to become aware of registering. When I sign the forms for social Welfare, will I be penalised for not registering before this and aslo what are the tax implications.
 
You should right away go on line to the PRTB and register today. It will cost you 180 Euro. If you don't the mortgage interest will not be allowed as a deduction against rental income.

Social welfare have no interest on whether you are registered with the PRTB or not. But revenue cross check with social welfare who is getting rent supplement and then check that with the PRTB so big trouble from revenue if you are not registered.

Also no doubt you have not paid the NPPR. Go online and pay now. The penalties built into this mean it is not wise to not pay.
 
Bronte said:
Also no doubt you have not paid the NPPR. Go online and pay now. The penalties built into this mean it is not wise to not pay.
Click to expand...

Check when this is due on the nppr.ie site - if you've acquired the property in the last few months it may not be due till next year.
 
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