Redwood1964
Registered User
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- 10
Over 7k in NPPR anyway.
Did you disclose to welfare that you had an apartment generating income?
Over 7k in NPPR anyway.
Did you disclose to welfare that you had an apartment generating income?
I started out with a €200,000 mortgage which has now reduced to €126,000...
I cannot pay them as I'm only on a welfare payment for the past 10 years.
The apartment is now worth close to €400,000
I certainly hope it won't eat up the equity to that extent! Thanks Brendan.Of course you can pay your taxes. You have equity of €270k which should be enough to pay the taxes, interest and penalties.
You need to engage an accountant immediately to sort this out with the Revenue.
You have been repaying capital on your mortgage instead of paying taxes. You will get little sympathy from Revenue.
Brendan
At a guess, €60,000 in total. That's back of the envelope stuff.
How did you calculate that? Whether back of envelope or front.
did you declare this income to social welfare if not they too may come looking for pay back.
It's hard to feel sorry for you
you had a responsibility to pay your taxes along with everyone else. Paying nothing for 11 years is totally unacceptable.
To be fair I really don't get the impression the OP is looking for your pity,
or a lecture.
Time for me to try and defend myself.Hi venice
If someone comes along saying that they have paid no tax for 11 years, I think that a poster is quite right to say that it is unacceptable.
Brendan
Thanks very much for your help. How do I find the posters with website addresses?Hi Redwood, as a resource AAM is a good resource full of the knowledgeable and the less knowledgeable characters, each post confusing or enlightening, therefore it is a research database. You need solutions now that you are enlightened and that necessitates finding a good accountant knowledgeable in revenue and property related matters. A few posters on this website have website addresses and au fait in such matters, look them up, give them a call, meet them and get this problem sorted with the relevant parties and move on. Life can be short enough and bills are irrelevant when that time comes.
As a landlord I saw your post on that other website, solutions are with a good accountant now you are enlightened in terms of approx costs.
CGT will be big on this. Do you currently own the property you reside in? Could you sell that and move into apartment as primary home to eliminate CGT?
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