PRTB & Short term lets

[jd32]

Hi,
Can anybody help with this?
I am being audited by revenue for 2007, during which time the apartment was let on a number of short term lets by an agent. No tenancy agreement was signed and no registration with PRTB took place. Each short stay was approx. 2 months and there were months where the property was vacant.
Revenue now says that I am not entitled to tax relief on the mortgage interest during this period. Do I have any defence?
Thanksin advance

[Shark Trager]

I am no expert but I dug this out

There seems to be a bit of confusion over who needs to register with the PRTB. As more and more of us decide to become "landlords" in the strictest sense of the word by renting out a room in our homes to supplement our income, many are asking this question. All tenancy agreements of private rented accommodation should be registered apart from:

* Business lettings; holiday lettings; owner-occupier lettings (e.g. Rent-a-room scheme); social housing; properties where the owner’s spouse, parent or child lives.

http://blog.myhome.ie/?tag=/landlord

What triggered the Audit? Is it the Revenue cross referencing with the PRTB?

[jd32]

I'm not sure what the trigger was, but don't think PRTB were involved.
I reckon it was an easy touch.

[landlord_jr]

Originally Posted by jd32

Hi,
Can anybody help with this?
I am being audited by revenue for 2007, during which time the apartment was let on a number of short term lets by an agent. No tenancy agreement was signed and no registration with PRTB took place. Each short stay was approx. 2 months and there were months where the property was vacant.
Revenue now says that I am not entitled to tax relief on the mortgage interest during this period. Do I have any defence?
Thanksin advance

Hi there
Mind me asking what brought down the revenue on you ? - falling out with a tenant ?

[Tax Wizard]

The revenue are now checking PRTB website, this lists all the registered landlords, against thier own records.

In your annual tax return you are reguired to state if you are registered with the PRTB or not.

The revenue will not allow any interest claimed against properties that are not on the register held by PRTB.

The revenue have set up a pilot project in some districts, if there is a high tax yield it will be rolled out in all tax districts.

[Rosemarry]

Hmmmm I found it interesting.....This is a very helpful and informative material. Good post and keep it up. Websites are always helpful in one way or the other, that’s cool stuff, anyways, a good way to get started to renovate your dreams into the world of reality.

Thanks!

[ronan]

Hi

I have an exsisting tenant in my house who is on a social welfare scheme, a new tenant moved in last April 2009 i forgot to add them to the list PRTB as a tenant, they both still live there now,one paid by welfare, one pays to the bank , the new tenant asked me yesterday was I registered , would it be possible to add them now?