S sarahc Guest 28 Sep 2006 #1 Hi, I own a flat in London and at the moment the mortgage is interest only. From the rent the tenants are paying, there is a surplus of about £150 per month. Do I need to declare this to the taxman here?
Hi, I own a flat in London and at the moment the mortgage is interest only. From the rent the tenants are paying, there is a surplus of about £150 per month. Do I need to declare this to the taxman here?
A asdfg Registered User Messages 1,642 28 Sep 2006 #2 Yes, See [broken link removed] You need to calculate the profit and declare it to revenue See "Example Rent account" in particular
Yes, See [broken link removed] You need to calculate the profit and declare it to revenue See "Example Rent account" in particular
S San Martino Registered User Messages 45 28 Sep 2006 #3 You also need to do a tax return in the UK - you pay your tax there first and then you must check if you have an Irish liability to tax
You also need to do a tax return in the UK - you pay your tax there first and then you must check if you have an Irish liability to tax