Property Investors - Tax on Rental Income >> Levy on Investment Properties and Second Homes

Tags: Landlords, Property Investors, NPPR Levy

An annual levy( Called NPPR Levy) on investment properties and second homes was introduced in 2009. Unfortunately there is no tax deduction allowed for this payment against rental income from the properties for which you have to pay the levy. The rules regarding payment are as follows:

The liability to pay the charge is determined on the basis of ownership of the property in question on 31st March each year. The annual charge is due within two months of this date. 
Late payments will be subject to a charge of €20 per month or part of a month. 
A Government website www.nppr.ie has been established to answer frequently asked questions and allow payments of the charge to be made electronically. Payment can also be made by cheque, bank draft or postal order and sent to the relevant local authority. The website has a good question and answer paper which explains a lot of typical queries which may arise. 
A declaration of ownership must accompany the payment. This can be made online through the website or on the relevant form. Forms are available for download from the website. 
This charge applies to all investment properties. Each separate unit e.g. bedsit / flat within one property is liable for the levy. 
The levy also applies to second homes, e.g. holiday homes. 

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