Tax Liability on rental income

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Hi,

I bought a house as an investment and started to rent it out on 1st April 2004.
Can someone tell me when I am liable to pay income tax on the rental income.
Should I have declared it at the end of 2004 ?

Thanks
Askaboutcash
 
Askaboutcash said:
Hi,

I bought a house as an investment and started to rent it out on 1st April 2004.
Can someone tell me when I am liable to pay income tax on the rental income.
Should I have declared it at the end of 2004 ?

Thanks
Askaboutcash
Click to expand...

Rental income is in 2004. 2004 tax return does not have to be submitted until 31 October 2005 at the latest, so you're not late yet.

How much you owe, if anything is another question.
 
salmon2005 said:
All rental income is treated for tax purposes as unearned income. This means you will be taxed @ 42% on full amount!! Sorry for the bad news!!

Regards
anthony@advicefirst.ie
Click to expand...

Untrue as you've been told before in a different thread. <snip>.

I know the first place I won't be going for any financial advice.
 
Last edited by a moderator:
do you mean that you accept it? or by excepting it, it that why you continue to make this mistake??
 
Thanks Ham Slicer for the reply. It gives me a bit of time to sort it out so.

Rgds
Askaboutcash
 
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