hello,
A family member has a home which he claims TRS on, for work reasons, in the past 6 years he rented it out twice. One time for 15months and another time for 2years. He moved back into house between lettings and is now currently back living permantely in house. He made tax returns for the years he received rental income but didn't inform revenue to suspend TRS.
He now has received a bill to repay all the last 6 years TRS even though the house was owner occupied at times over that period. He knows a repayment will have to be made but if he can prove that he lived there at times during the 6 years will revenue re calculate the overpayment and only charge him for the months he had the house rented ?
Thanks very much
A family member has a home which he claims TRS on, for work reasons, in the past 6 years he rented it out twice. One time for 15months and another time for 2years. He moved back into house between lettings and is now currently back living permantely in house. He made tax returns for the years he received rental income but didn't inform revenue to suspend TRS.
He now has received a bill to repay all the last 6 years TRS even though the house was owner occupied at times over that period. He knows a repayment will have to be made but if he can prove that he lived there at times during the 6 years will revenue re calculate the overpayment and only charge him for the months he had the house rented ?
Thanks very much