Ken Herbert & Co. CPA Ireland
Home Careers

Taxation of Rental Income in Ireland and increased Regulation in this sector

All Rental Income arising in the state is Taxable but because many landlords derive their principal source of Income through the PAYE system and coupled with the sharp rise in the number of Landlords during our boom years, the Revenue Commisioners believe that there still exists a significant number of individuals that , for various reasons, have not yet dealt with their statutory duty to File Tax Returns declaring their Rental Income.

In general we find that many people will fall into this category from a lack of awareness or even a fear of the tax system, and this often results in an otherwise compliant person being exposed to problems.

In recent years there have been a number of significant changes effecting Landlords and Rental Properties:

  • Establishment of the Private Residential Tenancies Board ( PRTB)
  • Introduction of the Non Principal Private Residence ( NPPR ) Levy of €200 per year
  • Introduction of the Household Levy
  • PPS No’s required for all HSE payments
  • Tax Clearance Certificates required for Rental Subsidy schemes such as RAS

These structures have resulted in additional costs to the Landlord, but more importantly, have helped create an accurate database of the Rental Properties and Landlords in the state. This information is being used to perform compliance checks in this sector and is resulting in increasing numbers of individuals having to get their Returns in order. It is to be expected that this activity will be continued until Revenue are satisfied with the required level of Compliance achieved.

Unfortunately there are interest and penalty costs to be factored into this process but it is vital that anybody in this position realises that the problem won’t go away and the penalties will just keep increasing.

Over the recent past we have been involved in helping Landlords resolve their issues with Revenue and it has been our experience that people are relieved to have the matter dealt with and are happy at becoming compliant .

We have developed extensive knowledge in the Rental Income sector and can help Landlords to resolve their Taxation and regulation difficulties in a Professional and discreet process.

If  you would be interested in discussing any related issues  please contact us in confidence.        045 521111   or     call to our office at Ivydene House, Dublin Street, Kildare Town.

  Kildare Auditor

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