Tax on house rent

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partnership

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I was a paye worker as was my husband up to August this year. We rented out our house and are living abroad for a year. We are registered with the prtb and a company collects the rent. When do I need to declare the income, how and any other information please.
 
https://www.revenue.ie/en/property/rental-income/irish-rental-income/index.aspx



How do you declare your rental income?
You must declare your rental income on your annual tax return.

If your net rental income is less than €5,000, use myAccount to declare it through your Form 12.

If your net rental income is over €5,000 you will have to register for self assessment. Use Revenue Online Service (ROS) to declare your rental income in your Form 11.

If you have rental income from a property outside Ireland see the foreign rental income section for more information.

If you sell one of your rental properties you may have to pay Capital Gains Tax - CGT).

If you are a non resident landlord you can claim a credit for the tax deducted by your tenant. You must submit a Form R185 with your tax return to claim this. You may choose to use the services of a rent collection agent. They will be an Irish resident who collects the rent and files your income tax on your behalf. If you use an agent your tenant will not have to deduct tax from the rent paid to the agent.
 

Rent paid to non-resident landlords
If you pay rent directly to a landlord who is resident outside Ireland, you must:

  • deduct and send 20% of the total rent due as tax to Revenue
  • pay the remaining 80% to your landlord
  • send a completed Form R185 to your landlord at the end of the year. This form shows how much tax was paid to Revenue.
Your landlord can then claim this amount as a tax credit on their tax return.
 
Thanks for the information. We only started renting in sept 2018 so will ne under the 5000. I am confused as to whether we declare it this year or next year.
 
partnership said:
Thanks for the information. We only started renting in sept 2018 so will ne under the 5000. I am confused as to whether we declare it this year or next year.
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It will be next year. Make sure you receive the rent each month, that you keep a copy of all bills. That you are registered with the RTB. Inform you house insurance that the house is rented. I wouldn't inform your bank though. No idea how good your agent is, but you should have someone have a look at the house on occasion. Or you yourself when you come back for a holiday.
 
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