Not Declaring Rent A Room Scheme Income

U

Ubogu

Guest
I have owned an apartment for nearly 5 years and have lived in it all of that time but have rented out a room for most of that period up until recently. The rental income has been consistently less than the limit specified in the Rent a Room scheme, so I should have not been liable to any tax but the problem is that due to ignorance of the law (which admittedly is no defence) I have not sent these details in a tax return so technically I have not been tax compliant. Of the tenants that stayed there, I know of only one (in 2004) who claimed for rent relief which potentially could "expose" me to the Revenue. Of course in hindsight, there would be no problem if I did declare this income at the time, but I was wondering if anyone has been chased by Revenue in these cirumstances and would have any advice.
 
The revenue ain't looking for you. You may send them a tax return for 2004 and 2005 if you wish . This means you must continue to send one in every year until you die :D
 
Thanks for the reply 2Pack. I would actually need to send in tax returns from 2002 if I was being strictly honest as that was the first year I got rent for the room. I am going to be buying a new place next year and renting the apartment from next year so I will have to do this going forward anyway. Would Revenue not take a dim view of filing tax returns this late (even if no tax was due)?!
 
Its not the 80s when the government was bankrupt and the Revenue was under massive pressure to raise cash , they are very reasonable people and if they accept those 2 years returns (and they will) and you continue returning annually for the rest of your life you will hear nothing more from them.

Better late than never . The returns will show you owe nothing and the furthest back you can claim a rebate if they owe you money is 2 years nowadays.
 
2Pack said:
Better late than never . The returns will show you owe nothing and the furthest back you can claim a rebate if they owe you money is 2 years nowadays.
Click to expand...

I think you can reclaim for four years.

If you had some non PAYE income, then went back to PAYE only, can you not ask to be taken off the annual return requirement ?
 
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