RTB, Revenue and Rent

[T McGibney]

I guess that's the logical outcome of a self assessed tax system.

Not so much that. Read any Revenue annual report. They measure their performance by the amounts of tax they collect. It's pretty much the same model as the banks uses in the celtic tiger era in relation to credit advanced.

So when you rely on them for tax advice, their guidance may well be motivated to get you to pay more tax than you necessarily need to.

And as long as they disclaim responsibility for bad advice, they can keep churning it out.

 

[Bronte]

By way of an update. I spoke with the RTB today and they confirmed that I do not have to register in this instance unless I want to. However, they said that without registration that I cannot claim relief on the mortgage interest or that my bro in law can claim the renters allowance. She said that this is linked to a RTB registration number.

I have called Revenue to try and get more information as it seems a bit daft that when you are exempt from the RTB registration, that you still need to do it for the tax benefits, but is Ireland... I'll let you know of any developments. Thanks for the responses so far

You got this information in writing? Because I very much doubt you did. And if this was a phone call you are wasting your time.

And you should not telephone revenue either, send in a message via their systems, wait a few weeks and enter into the realms of another world. But at least you'll have it in writing.

 

[Fran777]

Another update. I didn't bother getting in touch with Revenue direct. Instead I spoke with the accountant and she said that as we are exempt, then no need to register for tax purposes. But that she will need to review the Finance Act to be published & see the guidance provided. I'll let you know of any developments.

 

[RedOnion]

Instead I spoke with the accountant and she said that as we are exempt, then no need to register for tax purposes.

She agrees with me, so she's probably right!

She's correct to check the latest changes. I read the wording in the Finance Bill to mean that the new tax credit announced in Budget will only be available where its either RTB registered or rented to a local authority. There are some additional clauses that it doesn't apply where the tenant is a connected party.

‘qualifying premises’ means a rented residential premises situated in the State—
(a) that on the specified date is owned by a person chargeable, and
(b) to which, on that date, one of the following subparagraphs applies:

(i) the premises is occupied by a tenant under a tenancy registered under Part 7 of the Act of 2004 by the person chargeable; ​

(ii) the premises is a premises to which Part II of the Act of 1982 applies and is occupied by a tenant;​

(iii) the premises is let to a public authority (within the meaning of the Act of 2004) and is occupied by a tenant; ​

(iv) the premises is being actively marketed for rent with a view to the person chargeable entering into a residential tenancy agreement with a willing tenant;​

​

 

[Rhinoceros]

I had asked a question but then decided to delete it only to find there seems to be no delete option.

I hope you've managed to find clarity in your search.