Tax on rent in excess of the Rent-a-room allowance



Hello all
I recently used a traditional home mortgage as well as a Buy-to-let mortgage to finance a house purchase. The split between the 2 mortgages is roughly 50/50. I am now living in the house and renting out 3 bedrooms in a normal house-share type arrangement. I expect my rental income for the year to be about €14,000. I know that I’m entitled to €7630 tax free from the rent-a-room scheme but do I then have to pay full tax on the rest?
My other expenses from the house (buy-to-let mortgage interest, insurance, bin charges etc) are probably around €7000 too.
Does anyone know if there’s a clever way of combining the two figures to minimise my tax liability or do I have to just use the higher figure and pay tax on the rest? Would I be better switching the whole mortgage to buy-to-let so I can write off all the interest payments against my rent?
The rental guide from the revenue isn’t too clear on this subject.
Thanks alot for any advice.......



Once you go over the threshold for the rent a room sceme, you are liable for tax on all of the rent, not the excess.