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Rental income from land and property in Ireland (not NI)
I_want_to_break_free
Posts: 20 Forumite
in Cutting tax
Hi,
Due to an inheritance, I am looking at what to do with a small piece of land and a property in Ireland (not NI). I live in England and pay UK income tax at the basic rate.
One option I am looking at is to rent the land / property. This would generate an income of up to £3k pa. There would be some expenses of say £500 to £1k pa so nett I’d be looking at £2 to £2.5k pa.
What I am not sure about what would be the income tax position on the rental income by the Irish and UK governments. Would I need to pay income tax in both counties? Is there a double taxation agreement in place? If so, where can I find out information? Thanks in advance for any information / advice on this.0
Comments
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You are liable to pay tax in both countries, but the UK-Eire double tax agreement gives credit for the Eire tax paid on the rent against the UK tax payable on the rent (up to a maximum of that UK tax). In Eire tenants have a duty to deduct 20% tax from a non-Eire resident landlord, and provide a certificate. See:
https://www.ptireturns.com/blog/rental-property-owners-tax-guide-for-ireland/
1 -
Thank you Jeremy535897 this is just the information I need.1
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