I would be surprised if this was actually the case.The €7650 rent a room scheme would be a nice little scheme if it could be applied to a home business.
Yes - but renting out to a third party for use as an office is surely a different ballgame?As far as I know where the business use is only as a "home office" then there is no effect on Stamp duty, CGT etc.
Did your accountant explain all of the tax implications of this move - e.g. CGT and possibly SD implications? Not sure if owner occupier mortgage interest relief might also be affected.
If discrepancies in your tax affairs arised and you attempt to use this as an excuse Revenue will not accept it.I am acting in good faith.
Get him to put his advice in writing.I pay the accountant to know these things so Isn't he liable not me?
Actually it does cover you for lots of liability. Are you an accountant?If discrepancies in your tax affairs arised and you attempt to use this as an excuse Revenue will not accept it.
It is and not just from this guy as I stated. I am not sure what makes you an expert care to enlighten me?Get him to put his advice in writing.
No - but I know that this is the case. Ignorance (no matter if it was in good faith) of the law is not an excuse that Revenue will accept.Are you an accountant?
Sorry - it's also from some website or other so it must be true. My bad.It is and not just from this guy as I stated. I am not sure what makes you an expert care to enlighten me?
Actually you are wrong when it comes to penalties from my experience. Maybe you have been fined by the revenue but I haven't.No - but I know that this is the case. Ignorance (no matter if it was in good faith) of the law is not an excuse that Revenue will accept.
Sorry - it's also from some website or other so it must be true. My bad.
Hook Head is an IT Jobs site specifically designed for IT Professionals looking for work in Ireland. Hook Head's approach is holistic in nature in that we believe in order to attract top quality IT Job Candidates we need to offer something of value in return to those candidates, and to get the best quality IT Jobs Listings we need to have a highly-skilled captive audience. Our goal is to satisfy both of these desires by means of our IT Community.
Btw, I could not find any indication either on google or on their site that Mark Burke is a "professional accountant". Can you enlighten us?
I never mentioned penalties.Actually you are wrong when it comes to penalties from my experience.
Partial ReliefFull exemption may not be due if only part of the house has been used as the individual’s residence, in which case an apportionment is made to arrive at the exempt portion of the total gain. This may happen where the house is used partly for business purposes or where rooms in the house have been let
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?