Archive for the ‘Rental income’ Category

5 Tax saving tips for landlords

Jun 1

Keep receipts for ALL allowable expenses, In practise we find some clients aren’t careful about keeping receipts, This means they have less tax deductible expenses and end up paying more tax. Have a system for recording your expenses. It’s very easy to snap a photo of a receipt / invoice using your phones straight into […]

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Is the household charge deductible for landlords calculating their rental income?

Jul 26

No. Revenue have indicated that the household charge is not an allowable expense for Case V rental income

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Tax on Spanish Rental Income

Jul 6

Irish residents with Spanish rental property must make two income tax returns one in Spain and one in Ireland Tax Residency You are considered tax resident in Ireland if you spend at least 183 days here per year or 280 days over a two year period. As an Irish tax resident and Irish domiciled person […]

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Why I want to be a landlord

Apr 5

Taken from http://www.reuters.com/article/2012/04/04/us-personalfinance-realestate-landlords-idUSBRE8330T720120404 The first call my husband and I made after closing in March on a two-family house in Brooklyn, New York, was to a rental agent. We were becoming landlords and we wanted to get tenants into the ground-floor apartment before our first mortgage payment was due. After hearing throughout the housing downturn […]

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Allowable expenses against rental income

May 25

When preparing tax returns I often have to remind my clients that they may not be claiming for all allowable expenses against their rental income. I have  prepared a checklist which may assist landlords in ensuring they are claiming for everything they should. Remember all expenses should be wholly and exclusively for the business purpose […]

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Non Principal Private Residence (NPPR) Charge

Dec 20

It has come to my attention that the Revenue Commissioners are taking the view that this €200 charge is not deductible in calculating tax on any rental income from the property. Double taxation?

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