Tax return assistance

T

terrontress

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I would appreciate if someone could help me with the following.

I left Ireland at end May 2008 and finished a PAYE job. I was informed that I was able to apply for a rebate on all tax paid on the higher rate as I will not have used my entire year's allowance.

I have one friend who left Ireland at a similar time and received such a rebate.

I own an apartment which I let out and when I requested a tax rebate, I received a letter stating that as I am in receipt of income for that, I cannot claim a rebate until the end of the year.

Throughout the year I have taken less in rent than I have had outgoings in mortgage, insurance, PRTB, estate agent fees and as the mortgage is in its early years, I expect the amortisation to be balanced strongly toward interest rather than capital.

Can anyone tell me how I now go about making this tax return?
 
As a non resident landlord, you should have an Irish resident agent to act on your behalf as otherwise your tenants have to withhold basic rate tax on the rent payable.

Your agent will then register for tax and file tax returns as your agent under a new PPS number.

Your agent will need to complete a tax return showing your rental income, and therefore need to prepare rental income accounts in this regard, and show details of all your other income in the year (including PAYE income) on the return.

You can file the return now as the tax year has ended, and the sooner the better if you are due a tax refund.

You shoud probably get professional advice if you have not prepared rental accounts before and need to arrange for an agent (could be an Irish resident friend or family member).
 
Where would I go to get such advice? Accountant?

I have the local estate agency dealing with the tenant, who they found. They pass on mail and all that kind of stuff as well.

I am very keen to be compliant and up to date as regards taxation asap.
 
A tax consultant or accountant would be able to help you.

Note - you need an agent acting on your behalf with the Revenue - an estate agent will not do this for you.
 
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