Do you rent a residential, commercial or holiday property?  If so you will have a requirement to furnish Revenue with details of any profit or loss that you make from that rental.  While any tax due can sometimes be paid by adjusting your annual tax credits, normally you would be required to complete a form 11 or form 12 and pay any tax due by the 31^st October tax deadline.

Many people assume that if their rental income does not cover their mortgage payments then they’ve made a loss and have no need to declare the income.  However due to restrictions on what can and can’t be claimed as a rental expense, in many circumstances what first appears to be a loss can actually be a profit.

To ensure that your income tax return is completed correctly and that you claim all of the relevant expenses, why not let us take care of it for you?

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