JakeWhite123
New Member
- Messages
- 3
Hi All,
Long time lurker, first time poster.
I'm an Irish citizen living in the UK and am considering buying a property in Ireland. The intention would be to rent this out for a number of years before returning to Ireland to live in it permanently.
From reading various threads and online sources, I can see that the income tax rate charged on non-residents in receipt of rental income in Ireland is 20%, assuming that the taxable profit is within the 20% tax band. Is this still the case?
I have also read that as I am a UK tax resident, I would need to declare this income in my UK tax return. However, due to the double taxation agreement between the 2 countries, I would be given a credit that would mean I would not need to pay tax in the UK on this Irish rental income, given I will have paid this already to the Irish Exchequer. Does anyone with experience know this is the case?
Finally, I will look to speak with a solicitor or tax specialist before the purchase, so if anyone has any recommendations on good people that would also be very welcome!
Long time lurker, first time poster.
I'm an Irish citizen living in the UK and am considering buying a property in Ireland. The intention would be to rent this out for a number of years before returning to Ireland to live in it permanently.
From reading various threads and online sources, I can see that the income tax rate charged on non-residents in receipt of rental income in Ireland is 20%, assuming that the taxable profit is within the 20% tax band. Is this still the case?
I have also read that as I am a UK tax resident, I would need to declare this income in my UK tax return. However, due to the double taxation agreement between the 2 countries, I would be given a credit that would mean I would not need to pay tax in the UK on this Irish rental income, given I will have paid this already to the Irish Exchequer. Does anyone with experience know this is the case?
Finally, I will look to speak with a solicitor or tax specialist before the purchase, so if anyone has any recommendations on good people that would also be very welcome!