renting out my house tax questions

K

kim

Registered User
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Hi
I am thinking of renting out my home next yr and going abroad for a yr, I have been reading up on different websites about renting out my house paying tax on the rent recieved and nothing is making sense to me, is there anyone I could talk to that would tell me exactly how it works in simple english.
 
Straightforward - just think of your rent as your gross income, against which you are entitled to claim for a number of items including costs for maintenance, maybe mortgage interest relief and then, depending on your tax status, you pay tax on the result. Don't forget you have to register with the PRTB! There's a site called [broken link removed] which might help. Good luck!
 
Domo said:
... Send me a PM...
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Naturally my assumption is that there is no ulterior motive for the PM, but why not post the discourse here to benefit other posters, which after all is the purpose of the site.
 
You willprobably have to inform your Insurance co. also you will lose any interest relief you may be getting and will have to a BER Cert as well as registering with the PRTB
 
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