{"id":11862,"date":"2024-03-15T16:22:59","date_gmt":"2024-03-15T14:22:59","guid":{"rendered":"https:\/\/seoblog.taxback.com\/?p=11862"},"modified":"2024-03-15T16:23:06","modified_gmt":"2024-03-15T14:23:06","slug":"irish-landlord-expenses","status":"publish","type":"post","link":"https:\/\/www.taxback.com\/blog\/irish-landlord-expenses\/","title":{"rendered":"Expenses You Can and Can\u2019t Claim as an Irish Landlord"},"content":{"rendered":"

If you\u2019re new to the rental game in Ireland, you might have done some preliminary research into what sort of expenses you can claim when renting property for residential purposes, but be a bit stumped or at least unsure as to what exactly it all means in terms of Irish landlord taxes.<\/p>\n

That’s why we’ve compiled this overview of the absolute basics with regard to expenses and relief for Irish landlords<\/a>.<\/p>\n

You can find a more comprehensive guide to many of the expenses detailed here throughout our various updates, but if you’re a newbie and just want the low-down on rentals and tax you’ve come to the right place.<\/p>\n\n

What sort of tax will I pay?<\/h2>\n

Generally speaking, you’ll pay either 20% or 40% tax on your net rental income, depending on your personal circumstances<\/a> (marital status, how much you’re charging tenants, whether you have other forms of income, etc).<\/p>\n

Unless you’re renting in your own home and earning below a certain amount, you’ll have to register with the Private Residential Tenancies Board and lodge a Landlord’s tax return every year by 31 October.<\/p>\n

However, there’s a whole plethora of expenses Revenue will allow you to claim back on to reduce the amount of tax you pay each year, including Irish landlord taxes.<\/p>\n

If you are a landlord, you could be due a tax refund<\/strong><\/p>\r\n

GET YOUR REFUND NOW<\/a><\/p><\/strong><\/p>\n

 <\/p>\n

What can I claim expenses on?<\/h2>\n

Luckily the list of things you can claim as expenses is quite a bit longer than the list of things you can’t.<\/p>\n

Some of them are fairly obvious \u2013 such as maintenance and wear and tear expenses – but the Revenue is also pretty reasonable in that it will deduct money for advertising and agency expenses as well, related to Irish landlord taxes.<\/p>\n

Here is an overview of the expenses you’re able to claim against your return every year as a Landlord in Ireland:<\/h2>\n

1. PRTB Registration<\/h3>\n

Unless you fall under certain extenuating circumstances (as with Rent-a-Room relief<\/a>) it’s necessary for Irish Landlords<\/a> to register with the Private Residents Tenancy Board.<\/p>\n

At present, it’s \u20ac40 per tenancy and you have to register within a month of the tenancy’s start date. If you’re late, there’s a fee of \u20ac10 per every month it is late. The amount you pay to register multiple tenancies in a single building per year is typically capped at \u20ac375.<\/p>\n

You can claim back the full amount for both the initial fee and the sum you paid per tenant, provided you haven’t incurred any penalties for late registration related to Irish landlord taxes.<\/p>\n

2. Repairs and Maintenance\/Wear and Tear<\/h3>\n

These essentially cover the cost of maintaining your property to a livable standard for your tenants, and they can be deducted as part of your Irish landlord taxes.<\/p>\n

Repairs and Maintenance covers the cost of fixing broken windows\/locks, servicing boilers etc, whereas Wear and Tear is a deduction taken off your taxable income to account for the price of furnishings and fittings if you’ve pre-furnished your property for tenants.<\/p>\n

Note:<\/strong>\u00a0Wear and Tear covers all expenditures on brand-new furnishings (provided you keep all your receipts), but Repairs and Maintenance have to be essential and non-profitable to qualify.<\/p>\n

For example, you can claim maintenance if you hire someone to paint your property, but can’t claim for your own labour if you paint it yourself.<\/p>\n

If you are a landlord, you could be due a tax refund<\/strong><\/p>\r\n

GET YOUR REFUND NOW<\/a><\/p><\/strong><\/p>\n

 <\/p>\n

3. Advertising Expenses and Estate Agent Fees<\/h3>\n

Anything you pay towards the publicising property you want to rent is fully claimable as part of your returns, be it through advertising (putting something in the paper or using a website such as daft.ie<\/a>, for example) or using the services of an estate agent\u00a0\u2013 a key consideration when wondering how to claim tax back<\/a>.<\/p>\n

4. Management\/Agent Fees<\/h3>\n

If you use an intermediary to collect rent on your behalf or deal with tenants (as is the case for non-resident landlords<\/a>, for example) this service is tax-deductible, so it’s definitely\u00a0a valuable aspect for those looking to optimize Irish landlord taxes and potentially claim tax back.<\/p>\n

5. Local Service Charges<\/h3>\n

If you pay for rubbish collection, recycling, or make any other payments relating to services provided to your rental property by the local council, you are entitled to take a deduction for them\u00a0\u2013 a potential benefit when seeking tax back.<\/p>\n

This only applies if you cover these charges \u2013 if you bill them to your tenants, you obviously won’t be able to claim them back.<\/p>\n\t\t

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\n\t\t\t\t\tRead more: Expenses for non-resident Landlords\t\t\t\t<\/h5>\n\t\t\t\n\t\t\t
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\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\"Non-Resident\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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