Tax on Rental Income – A Guide for Landlords

If you’re a landlord in Ireland, you must file income tax returns. Tax Return Plus takes the stress away by helping landlords with their self-assessment and filing an income tax return on their behalf. Our simple and fast service costs from just €150+ VAT, so landlords can benefit from the expertise of qualified accountants without the sky high fees.

Get a quote for your rental income tax return here.

Who must file a rental tax return?

If you receive income from rental properties or holiday homes, then you must declare these properties to Revenue and file a tax return related to any income earned from those rental properties. There are different classifications you should take into consideration, based on where you or your rental property is:

Irish Landlords

If you obtain income from the rental of a property, this income must be declared to Revenue.
We help clients who’ve intentionally purchased a rental property and ‘accidental landlords‘, due to a change in circumstances. If you are in a situation where the property is ‘loss making’, it is still beneficial to complete a return, as losses can be used to reduce future rental profits. Tax Return Plus offer ongoing advice in relation to allowable expenses and revenue compliance, ensuring that you, the landlord, have peace of mind.

Non-Resident Landlords

Should circumstances require you to move abroad and you intend on renting out your Irish property,
you will be classified as a Non-Resident Landlord (NRL).  There are rules for NRLs to ensure returns are submitted and non-compliance can have serious repercussions for both you and your tenants. Tax Return Plus has extensive experience helping NRLs remain tax compliant and updating non-resident landlords of their obligations.

Foreign Properties

If you own a property abroad and obtain a rental income from this property, then as an Irish Resident, this income is liable for Irish taxation.  The usual deductions are allowable with the addition of any local property taxes paid in the location of the property.

Click here for a tailored rental income tax return quote.

What rental expenses can be written off?

There are many “Allowable Deductions” applicable to rental income tax which can be offset against your rental income. Tax Return Plus helps uncover what you can claim for and file your tax return for a low fee starting at just €150 (+VAT).

The following rental expenses are included:

Mortgage Protection

The policy has to relate to the specifically to the rented property.

Prior Year Losses

Losses incurred in previous years can be used to offset current year profits.  However, the losses incurred have to be declared to revenue and ‘ring-fenced’.

Repairs and Maintenance of Property

Provided these expenses were incurred specifically in relation to the rented property, they are allowable deductions.

Private Residency Tenancy Board

This cost which is currently €90.00 is tax deductible.  More importantly it permits the landlord to claim the Mortgage Interest Relief allowance.

Accountancy Fees

Accountancy fees are tax deductible, meaning that engaging the services of Tax Return Plus is an even more attractive option. (link through to homepage, anchor down to form)

Mortgage Interest Relief

A landlord can claim 75% of the Mortgage Interest paid on a rental property.  To do so, the landlord has to be registered with the Private Residential Tenancy Board (PRTB).

Property Management Services

Engaging the services of a letting agent or a property management company are allowable expenses.

Capital Allowances

This a relatively complicated allowance but it can be summarised as writing off the cost of wear and tear of furniture and equipment, provided by the landlord, over a period of 8 years as opposed to all at once.

Home Renovation Incentive Scheme

Landlords can benefit from this scheme through their tax credits.  It relates to large scale construction work carried out after October 2014 on the rental property.

Insurance

House Insurance related to the property is an allowable expense.


Tax Return Plus will ensure you claim all expenses you are eligible for. Get a quote for your rental income tax return here.

How Tax Return Plus works for landlords:

1. Provide us with some basic details and receive a tailored quote

2. Complete a short online authorisation form so we are authorised to file a Form 11 for you

3. Gathering the details. We’ll collaborate with you on this, making it straightforward for you

4. Tax Return Plus then completes your Form 11 which you then sign, and we submit your form to revenue.

5. You will hear from the Revenue Office confirming your tax liability or tax rebate.


Some rental tax return pricing examples:

Tom rents out 1 house – we completed his tax return for €150. (+VAT)

Mike is a non-resident landlord with 2 properties – we completed his tax return for €250. (+VAT)

“Real people that actually listen and understand what I need when it comes to filing my taxes.

I’ll definitely be using their services again”

Michael O’Dwyer, Landlord, Co. Kildare

 

To get a quote for your rental income tax return, just answer a few simple questions.

Why Tax Return Plus?

Simple Tax Returns

A no nonsense process coupled with specialist rental tax expertise means an easy tax return experience for landlords.

Fast Completion

More rental tax returns are completed in 2 to 3 working days.

Accurate

Our team of accountants are highly experience in rental tax returns, meaning they will ensure all is in order, and 100% accurate.

Track Record

Our qualified accountants have been specialising in rental tax returns for over 20 years.

Get a Quote

To get started, answer a few simple questions, submit the form, and our income tax return specialists will be in touch with your quote.
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My Income Source (tick any that apply)
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Additional Information

Please add any other relevant details that will help us to process your quote.

Rental Income

Where are you resident?
How many rental properties do you own? (tick one)
How many tax years need to be filed?
Additional Information.
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Other Income

Please add all relevant details of your income sources here.

Trading Income

What is your approximate annual turnover?

RCT Subcontractor Income

Any additional self-employed income to be declared (not through RCT system)?
What is your approximate annual turnover?
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Final Details

How many tax years need to be filed?
Are you registered for VAT?
Do you have any employees?
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