How To Pay House Tax Online?

How much tax would I need to pay if I let one room in my house?

• Not sure about how I pay the tax for letting my room for 400 Euros per month in Dublin. How do I regsiter? Or do I just add up the income at the end of the year and pay tax as normal?

• Answer:

  I went to www.revenue.ie, put in a search for Rent a Room, and this is what I found Budget Summary 2009 Rent-a-Room Scheme The limit of the exemption from income tax, which applies to rent, received, where a person rents out a room or rooms in his or her principle private residence, remains unchanged at €10,000. http://www.revenue.ie/revsearch/search.jsp For 2007 and following years 'rent-a-room' relief cannot be granted to individuals in respect of accommodation provided by parents for their own children. In circumstances where there are non-connected persons paying rent for rooms in the family home, these payments will still qualify for 'rent-a-room' relief. The relief is available to individuals only. It does not apply to companies or partnerships. This income is not liable to either PRSI or the 2% Health Levy but it must be included on an individuals annual income tax return. You must keep full and accurate records of your lettings from the start. You need to do this whether you send in a simple summary of your profit/loss, prepare the accounts yourself, or, have an accountant do it. If you a rent a room in your home, then you are not covered by the landlord / tenant legislation in Ireland. So you are not bound by the rules covering landlords in Ireland. For example, you don’t have to register with the Private Residential Tenancies Board (PRTB) as a landlord, you don’t have to provide a rent book to the tenant and you don’t have to ensure that the room you are renting meets any minimum physical standards. Your tenant does not have a tenancy agreement but rather a Licensee Agreement and is only entitled to “reasonable notice”. http://www.myhome.ie/lettings/advice-centre/1171-1171-2502/rent-a-room-scheme.asp I'm surprised at the last paragraph, because when I rented out a room in my home, my solicitor told me it was obligatory to register with PRTB. The renting was very short-term, to meet the needs of a friend who was "stuck" at the time, and I never did get around to registeriing it.If I ever do rent it out again, I now know I don't actually have to register.