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yes, i wouldnt say i stay there a lot. but its still my primary residence.
Given what you have posted in this thread so far I would suggest that you get professional tax advice on the matter ASAP. Even under the rent a room scheme you are supposed to declare the income (even if exempt) as far as I know. But in your case you were above the exemption threshold for a period of time as far as I can see and you may also not actually be an owner occupier.Got a letter from the Tax office recently " I understand you are in receipt of Rental Income" and to fill out attached form TR1 for Income Tax.
My story bought my house in 2004 rented out 2 rooms last two years, recieve 8400 euros per year. Mortage payments 8160 per year. Never registered with tax, did i have to as small money (under threshold???). House is my primary residence. I am now not working, back studying.Worried about claw back penelties etc. any similar stories, advice, or solutions. Thanks a bit worried about it.
You need professional advice in my opinion.well i am there more than 50% of the time, yes it is my primary address etc. Will they throw the book at me altogether, that what i want to know. I will be seeking prof advice.
Your situation from what you are disclosing, does not seem to have anything that would arise suspicion I would have thought.
You may have been rumbled by a random bank acc check up( do they can they do this??? I assume they can ... ) or not submitting a form 12 that may have been issued you ?
Have you anything else on the go that may have caused reason for a bit of a check up that may also complicate the issue ?
How do you think it was alerted to?
What about the non declaration of total rental income that was in excess of the rent a room exemption limit?Your situation from what you are disclosing, does not seem to have anything that would arise suspicion I would have thought.
Well one problem is that the limit was only €7,620 a year until I think it was last years budget so you would have been over the threshold
or a tenant claiming rent relief....
If the property was rented out within 5 (pre Budget 2008) or 2 (post Budget 2008) of purchase as an owner occupier. The former seems to apply here so if the original poster is actually classed as an investor because they breached the rent a room scheme and/or are not actually deemed an owner occupier then the SD clawback could also be an issue.and stamp duty claw back
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