B
BoozyBabe
Guest
Hi All,
Need a bit of advice.
Bought a house in 05, renovated it for 3 months & then rented it out.
(I was a 1st time buyer, but house was below stamp duty threshold anyway)
House was rented out for over 2 years.
It was registered with PRTB, but I never filled out tax forms for it.
Got several copies of the forms with the intention of completing them, just hadn't a clue how to.
Now the tenancy is over, I'm not sure whether to rent out again, or live there myself, which leads to the question:-
If I rent out again, I want to have the tax sorted out. Should I mention the other two years, or just start from this tenancy? Will they wonder whats been happening with the house for the previous 2 years? Do they check?
If I live there myself, I'd like to claim mortgage relief. Again, will I have to settle the outstanding tax first?
If I don't, will they wonder why I haven't been claiming for the last 2 years, & will they check?
As the property was rented for the 1st 2 years, can I even claim mortage relief if I live in it now anyway?
Oh, & whatever advice you give me, how do I go about doing it properly?
Thanks
What about the Rent a Room scheme? Could I say the tenant was there under this scheme? Was there forms I would have had to fill out?
My rental income was less than the €7...k per year threshold.
Need a bit of advice.
Bought a house in 05, renovated it for 3 months & then rented it out.
(I was a 1st time buyer, but house was below stamp duty threshold anyway)
House was rented out for over 2 years.
It was registered with PRTB, but I never filled out tax forms for it.
Got several copies of the forms with the intention of completing them, just hadn't a clue how to.
Now the tenancy is over, I'm not sure whether to rent out again, or live there myself, which leads to the question:-
If I rent out again, I want to have the tax sorted out. Should I mention the other two years, or just start from this tenancy? Will they wonder whats been happening with the house for the previous 2 years? Do they check?
If I live there myself, I'd like to claim mortgage relief. Again, will I have to settle the outstanding tax first?
If I don't, will they wonder why I haven't been claiming for the last 2 years, & will they check?
As the property was rented for the 1st 2 years, can I even claim mortage relief if I live in it now anyway?
Oh, & whatever advice you give me, how do I go about doing it properly?
Thanks
What about the Rent a Room scheme? Could I say the tenant was there under this scheme? Was there forms I would have had to fill out?
My rental income was less than the €7...k per year threshold.