FORM 11 - Irish Rental Income

S

spss

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OMG - put a few quid on deposit, buy a few auld shares and rent out a house and all of a sudden you need to be a KPMG tax partner to fill out the fffff'n resulting paperwork. CG1 form, MED1 form, MED2 form, Form 11, Payment to NPPR, Registration with PRTB, Dividend with-holding tax, encashment taxes..........the list goes on and my head explodes like a tomato in a microwave!......... rant over.......at least I am fortunate enough to be in a position where I am still solvent......... at least until the December Budget!

OK, I think I have my head around everything except the Irish Rental Income. I rented out a house for the first time in February 2008. At the point of rental I conservatively value the contents (including Kitchen) at a little over €10K. I am taking this to be the amount for capital allowances (which I will divide by 8 to get the allowance for 2008).

I have not included tiling or carpets in this capital figure.

Capital Allowance for 2008 = €1250

Expenses I take to be:

Fee for mowing of common area €50
TV License €160
Oil Provided at start €200
Cable TV Subscription €97 (cancelled at request of Poilish tenants who put in their own)
Bin Charges €308

Expenses (presumably under "Other")= €815

OK now the difficult bit.

Before rental we had some new carpets laid, the house painted, the bathroom re-tiled and a tiled splashback put up in the kitchen. Can I claim any or all of this (and if so under which heading -repairs)?

Whilst the tiles were laid in January 08 in preparation for rental, some (the bathroom ones) wre purchased in December 2007....in the context of whatever the answer to the previous question is, can I still include these?

The bestest possible answer you could give me would be the entries for boxes 206, 207 and 208

Rental income was €8K to 31/12/2008

Thanks a million,

S
 
Hi S

my understanding is that there is no relief available for repairs prior to the first letting, so therefore none of the above can be included

I will go back to my LIA books to confirm this.....
 
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Thanks very much Glorioisa....makes sense I guess (with a government hat on)!

Two questions still (linked to my original questions).

Can a valuation for carpets be included in the figure for capital allowances (wear and tear). I know the fitted kitchen can, but tiles cannot.....I'm a lttle unclear on this

In relation to box 208 (first letting) taking a valuation of fixtures and fittings of €10K

What are my entries for box 208 (a), (b) and (c). I think (a) is zero, (b) €1250 and (c): is also €1250

Is this correct?
 
Can you claim for mileage to go and carry out repairs?
Can you claim for telephone expense as this is the only point of contact for the tenant?
 
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