A very interesting question.
Also, if you claim a deduction for the value of the time you spend on repairing the property then you must submit a return for the income you have made as a property repairer so it would be a zero sum game.
There is no question of claiming a deduction for the value of the time.
The management company would charge a fee for its services, that's a tax deductible expense against the rental income for the owner.
The management company would pay the owner a wage for his work managing the property. That would be taxable income for the owner, and the employees PRSI would be an additional burden. Slightly worse than zero sum so far.
The owners income from the management company would be income from employment and would create the possibility for pension contributions against earned income, as I understand it.
The company can claim the same expenses as a sole trader.
They are not identical. As an employee of the management company the OP could submit expenses to the management company and be reimbursed for those. Many such expenses cannot be claimed as tax deductions against rental income by a property owner.
As an example. From Revenue.ie
Use of private vehicles
You can repay your employees when they use their private cars, motorcycles or bicycles for business purposes.
This payment can be made, tax free, by the amount of business kilometres travelled. You can either:
- use the current schedule of Civil Service rates