Myself and my partner purchased an investment property recently which is now ready to rent. We are using an interest only mortgage for the first couple of years. Is it necessary to register for Tax payment on this property in this case {rent income 800 euro per month} and if so how do i register with the Revenue?
Yes - you have to declare the rental income and work out what is assessable for tax after deduction of allowable expenses. See the Property Investment FAQ. If you are not totally clear on your liabilities and obligations then you should obtain independent, professional advice. I am assuming that the property was bought as an investment property and not as an owner occupied property which is now actually being rented out. If this is not the case then there may also be outstanding stamp duty liabilities.
Presuming you are PAYE and the net rental income is < 3175, you can just return it on Form 12 each year. However if it exceeds this amount, you will need to register for self-assessment which you can do by filling in From TR1 ([broken link removed]) and making a return on Form 11 and paying preliminary tax each year.