She had 2 properties - one she had let for 7 years (approx) and the other she rented out when she quit her job. She didn't declare tax on either properties and used the rental income to live off.
What makes her exempt from filing tax returns on her rental income for 7 years?
Thank you Joe.
My question is whether she can put this on hold for a few months or if she has to urgently deal with it now. As previously explained, her main priority is stopping the bank repossessing her property.
In relation to the property that the banks repossessed I would imagine that if the Banks have sold it on they would have had to sort out the amounts owing for NPPR & penalties/Household charge & LPT in order for them to complete the sale. So she probably does not have to concern herself with those issues in relation to that house.
She will still have to register with PRTB in order to get the relief on the Bank Interest on both houses.
In relation to house No 2 the NPPR tax ended on 31/03/13 so the question is was it her main residence up to and including that date. If it was No NPPR due and if not NPPR due plus penalties. There is a one month grace period – so all 2013 charges paid after 30th June 2013 will attract a late payment fee of €20 a month.
LPT came into effect on 1st July 2013.
I am aware of how messy a situation can become when the finances go wrong as I have a good friend who has come a cropper and his situation is now an awful mess.
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