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Rental Returns

 RENTAL RETURNS

Dublin Accountancy

Rental Returns

It can be challenging and time-consuming as a landlord to process taxes, rental returns, rental reliefs and payments, especially when dealing with multiple properties and tenants.

 

Dublin Accountancy provides a comprehensive and easy-to-parse rental returns service that helps you figure out how to organise your accounts relating to your tenants and property.

 

We assist with all manners of tax rental relief and other tasks such as calculating your total rental yield. We’re sure to keep you, your accounts and your great relationship with your tenants intact.

 

We offer different rental return packages below depending on your specific needs.

Rental Returns

For professional rental return and relief services for landlords in Dublin, contact Dublin Accountancy

Rental Return Packages

GOLD PACKAGE

  • Prepare Return for 6 - 10 Properties.

  • Prepare and File Personal Income Tax Return.

  • Pay your Income Tax on your behalf using ROS.

  • Includes Filing of Paye Income.

Costs €102 per month or €1,224 per annum. (Price already includes vat)

SILVER PACKAGE

  • Prepare Return for 2 - 5 Properties.

  • Prepare and File Personal Income Tax Return.

  • Pay your Income Tax on your behalf using ROS.

  • Includes Filing of Paye Income.

Costs €52 per month or €624 per annum. (Price already includes vat)

BRONZE PACKAGE

  • Prepare Return for 1 Property.

  • Prepare and File Personal Income Tax Return.

  • Pay your Income Tax on your behalf using ROS.

  • Includes Filing of Paye Income.

Costs €36 per month or €432 per annum. (Price already includes vat)

Please note e.g., one property consists of 1 House or 1 Apartment. maximum number of transactions. Please note alternatively we also can customise a package to suit your requirements

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For queries about any of our rental return packages above, contact Dublin Accountancy

Dublin Accountancy

Information for Landlords

When creating a lease, it is important to consider matters relating to break clause, who bears the cost of maintenance, rent review periods, terminations, increases in rent, pressure zones, term of the lease and more. Some of the responsibilities of landlords under the Residential Tenancies Board (RTB) include:

  1. Landlord must register their tenancy within one month of the start of the tenancy. Register online on www.rtb.ie.

  2. Landlord must provide tenants with a receipt or statement or rent book.

  3. Reimburse tenants for any repairs

  4. Insure the property.

  5. Pay Property Taxes and other charges (that tenant is not responsible for)

  6. Schedule a property inspection and Landlords can regularly carry these out.

  7. Make sure there are refuse bins available for the tenant.

  8. Give the tenant a written Notice of Termination at the end of the tenancy.

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For more information about landlords’ rights and responsibilities, contact Dublin Accountancy

Dublin Accountancy

Rental Returns FAQ

What expenses can I claim in my tax return against rental income?

Some of the usual allowable expenses include:

  • Insurance premiums against fire and public liability

  • Maintenance of your property such as cleaning, painting and decorating

  • Property Management fees before you first rent out your property such as management,

  • Advertising

  • Legal fees on creation of a lease or on debt management

  • Accountancy fees

  • Cost of any service or goods you provide that are not repaid by your tenant (such as electricity, central heating, telephone, service charges, water and refuse collection).

  • Mortgage protection policy premiums relevant to the property

  • Expenses in between renting out the property in certain circumstances

  • Capital allowances

  • Repairs, such as rot treatment, mending windows, doors or machines

  • Certain pre-letting expenses on vacant residential property – subject to conditions

  • Cost of registering with the Residential Tenancies Board (RTB).

  • Capital Allowances are allowed on fixtures and fittings e.g., beds, dryers etc.,

  • Rates

Please note you can only claim the portion of expenses related to the part of the property that is let. e.g., if half the rooms are let, then half the expenses can be claimed.

WHAT RENTAL PROPERTY TAX INCENTIVE SCHEMES ARE AVAILABLE?

The following are available subject to qualifying conditions:

  1. Home Renovation Incentive

  2. Living City Initiative

  3. Leasing of your farmland

  4. Rent to buy schemes

  5. Rent a room relief – if you rent a room in your home subject to qualifying conditions

  6. Rent Tax Credit- can be claimed for the 2022 tax year and onwards on your income tax return.

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