# Mortgage condition - proof that tax has been paid on rental income



## selfbuild (10 Aug 2011)

Hi all,
I have recently been approved a mortgage, however two of the conditions of this offer relate to a rental property that I own - these are
1) I must get an accountant to certify that am getting the rent that I claim I am getting
b) I must get an accoutant to certify that I am tax compliant regarding this rental property

My question is, how can I prove either of these?  all I can do relating to the rental income is show bank statements showing the direct debits from the tennants account.

I have always done my own tax returns, so I have no "proof" as such that I have submitted the form 12's - would revenue be able to provide me with a statement that I have submitted tax returns for this property?

Thansk for your help


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## NorfBank (10 Aug 2011)

I feel your pain selfbuild, it is these type of conditions that are the bane of my life. 

AIB perchance?

Approaching it as a person who is paying rent and trying to get approval, the lender will accept a copy of the lease agreement as proof that the stated rent is being paid. I presume they will accept the same from you as the landlord as proof that you are receiving the stated rent.


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## wbbs (10 Aug 2011)

A copy of your balancing statement from Revenue would show the rental income on it and would show it was included in your income for tax calculations.   

*I am assuming your returns are just ordinary PAYE ones and that you get an ordinary balancing statement.


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## Bronte (11 Aug 2011)

Wow never heard of the bank asking that before.  Further proof is your PRTB registrations.  Rent book.  Utilities in tenant's names if you have to go that far.  

Also some of my rents are cash which are then lodged, my accountant can only trust me when I say this is the rent received as technically he doesn't know the lodgements are rent, so can't see how an accountant can certify the rent received.  It would even apply to some that are direct debits as how would the accountant know it was a tenant paying it.


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## selfbuild (15 Aug 2011)

Thanks for your replies all - would anyone know how much an account would charge to certify all of this (after I gather together the relevant documentations)?
Thnaks


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## WizardDr (15 Aug 2011)

Selfbuild - if you have completed your tax return - I assume from what you are saying that you have included your Case V Rental Income. To have done this, you would have needed to compute the rent and the deductions - and that figure will be on your balancing statement. Show this - and if you like the calculations. That should suffice.


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## kennyb3 (16 Aug 2011)

WizardDr said:


> Selfbuild - if you have completed your tax return - I assume from what you are saying that you have included your Case V Rental Income. To have done this, you would have needed to compute the rent and the deductions - and that figure will be on your balancing statement. Show this - and if you like the calculations. That should suffice.


 
Agree with this. Certify doesnt mean the accountant walks down the bank with you watches you lodge the money to prove its rent.


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## badbob (16 Aug 2011)

if your tax returns are up to date you can request a tax clearance certificate from revenue (can be requested on revenue website)


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