Section23 question

[sabrina99]

Hi there
I have a question on Section 23 Tax relief that I hope somebody could help me with.
A family member bought a section 23 apartment.
When they returned their tax return in 2007, they manually calculated what their section 23 relief is by taking the Amount paid for the apartment and deducting other rental income from this amount. (This was done on a slip of paper only!)
Now they have sent their tax to an accountant to be completed. They have said they are not able to calculate section 23 as they need the capital allowances computation. Family member has no record of this.
Would this be an official document that would have been received when buying the section 23 property or would the slips of paper suffice?

 

[Knuttell]

Family member has no record of this.
Would this be an official document that would have been received when buying the section 23 property or would the slips of paper suffice?

They should have received a Certificate of Compliance certificate(RRS99) from their Solicitor,this Cert is issued from the Dept of the Environment,Heritage and Local Govt.

This certifies that the dwelling was built to spec and scheme complies with relevant sections of the Tax Consolidations Act 1997.

They should also have received a Cert provided by an independent company like for example Midland Design Services outlining how the Tax relief is calculated.

Get them to contact their Solicitor or failing that try and contact the builder,I would be fairly certain that they had it at one stage,try looking through old paperwork.

A slip of paper with their own calculations on it will not in my opinion suffice.

 

[sabrina99]

Thanks for the reply, they have rang the solicitor so all sorted now. Thanks