NPPR gone?

[Mortimer]

Hi,

Due to hardship I've never paid NPPR on a second 'home' we have rented out since 2008 (rent covers 7/9ths of interest only mortgage). I reckon we owe 3-4k in penalties etc. for it. Which we will never afford.

Can someone tell me if:
a) the NPPR has been dropped now in favour of LPT from next year? I thought I heard something about this in Budget
b) will penalties and arrears keep building over the next few years?
c) has anyone been able to get local council to quash extortionate penalties due to inability to pay?

 

[Luternau]

Can someone tell me if:
a) the NPPR has been dropped now in favour of LPT from next year? I thought I heard something about this in Budget Correct from 2014 onwards
b) will penalties and arrears keep building over the next few years? Yes
c) has anyone been able to get local council to quash extortionate penalties due to inability to pay? Not that I have heard

Where are you with the bank on the mortgage ? How much negative equity/arrears?

 

[ajapale]

Moved from Tax to Property investment and tenants' rights which is where the NPPR is discussed on AAM.
http://www.askaboutmoney.com/forumdisplay.php?f=36

 

[Dermot]

Table shows the how the penalties accumulate.

The table hereunder outlines the charge and the corresponding late payment fees for each year that have been incurred at a particular month.


Year Dec 2012 Jan 2013 Feb 2013 Mar 2013 Apr 2013 May 2013 Jun 2013 Jul 2013 Aug 2013 Sep 2013 Oct 2013 Nov 2013 Dec 2013
2009 €960 €980 €1,000 €1,020 €1,040 €1,060 €1,080 €1,100 €1,120 €1,140 €1,160 €1,180 €1,200
2010 €800 €820 €840 €860 €880 €900 €920 €940 €960 €980 €1,000 €1,020 €1,040
2011

€560 €580 €600 €620 €640 €660 €680 €700 €720 €740 €760 €780 €800
2012 €320 €340 €360 €380 €400 €420 €440 €460 €480 €500 €520 €540 €560
2013 - - - - €200 €200 €200 €220 €240 €260 €280 €300 €320
Total €2,640 €2,720 €2,800 €2,880 €3,160 €3,240 €3,320 €3,420 €3,520 €3,620 €3,720 €3,820 €3,920

 

[Dermot]

I copied the table from a Co Co. website and it did not come out too clear. To give you an example if you owned an NPPR on 31st July 2009 and continued to own it to this date without ever having paid any of the charges your liability would now be €3,820 and it will rise to €3,920 on the 1st December 2013

 

[Knuttell]

Hi, Due to hardship I've never paid NPPR on a second 'home' we have rented out since 2008 (rent covers 7/9ths of interest only mortgage). I reckon we owe 3-4k in penalties etc. for it. Which we will never afford.

Its a cruel tax the way it keeps compounding, FF really laid it onto landlords with a trowel, NPPR, Household charge, PRTB, we were/are supporting quangos left right and centre. In fairness to FG they done away with it and that "household charge"

If I were you and there wasn't a remote chance of paying it I would just ignore it, eventually revenue will lose interest in collecting it much the same way they lost interest in collecting the property tax in the 80s.

 

[Mortimer]

Can someone tell me if:
a) the NPPR has been dropped now in favour of LPT from next year? I thought I heard something about this in Budget Correct from 2014 onwards
b) will penalties and arrears keep building over the next few years? Yes
c) has anyone been able to get local council to quash extortionate penalties due to inability to pay? Not that I have heard

Where are you with the bank on the mortgage ? How much negative equity/arrears?

On interest only, which is €912 pm. Rent is €700. Struggling to make shortfall, particularly as my JSB changes to to JSA soon and I'll get about €15 pw.

Mortgage owed is about €248k with €9k arrears. House, according to a local estate agent, is currently worth €130k max.