TAX SUPPORT FOR NON-RESIDENT LANDLORDS
Tax Support for Non-Resident Landlords in Ireland
At Caroline Crowley Accountants and Tax Advisors located in Cork, Ireland we provide specialist taxation advice to people that have rental income from properties in Ireland, but do not live here.
If you own rental property in Ireland but are not currently living in the country, you are considered a non-resident landlord. Rental income from Irish rental property is taxable in Ireland irrespective of where the property owner resides. It may also be taxable in the taxpayer’s country of residence.
All non-resident landlords must declare any Irish rental property to the Irish Revenue. Additionally they must appoint a Collection Agent or put in place an arrangement with tenants to pass 20% of the monthly rental charged to the Revenue Commissioners. All non-residents landlords, must also file a tax return for any income earned, and pay any rental income tax for which you are liable.
On the other side if you are Irish tax resident and own a UK property which you are renting. You are a non-resident landlord in the UK and required to file an annual tax return with HMRC.
Failure to register and file UK tax returns may lead to the non-resident landlord becoming liable to penalties and interest in respect of late payment of UK tax or late filing of returns. Non-resident landlords may apply to HMRC for approval to receive rental income gross.
We can assist non-resident landlords in Ireland and the UK with submission of both their Irish and UK tax returns.
We offer landlord in receipt of rental income in Ireland and the UK support regarding their personal tax affairs. For further personal financial and tax advice email caroline@cctc.ie