Property Rental Accounts

We provide a comprehensive recording system which is easy to use and will allow you maintain a record of your rents from each property for every tax year and maintain important information for income tax purposes. This is very important as you are obliged to maintain such records by the Revenue for a period of four years and the information has to be available for inspection by the Revenue if required by them.

The following is the information you need to have ready to complete a property rental account:

  • Identify gross rents earned for the period in question.
  • Identify all expenses allowable against the rental income.
  • Identify the cost of fit out etc for items that qualify for a tax claim over 8 tax years.
  • Certificate of mortgage interest paid for the year.
  • Insurance paid for contents and buildings if applicable.
  • Mortgage Protection Death only Policies amount of premium paid in year.
  • Professional fees amount payable for the year. The subscription fee paid for using our website to complete your rental income account will qualify as a tax deduction against your rental income.
  • Letting Agents Fees amount paid for the year.
  • Property Management Fees amount paid for the year.
  • Legal Fees amount paid for the year re rent collections, disputes with tenants, etc.
  • Repairs amount paid for the year.
  • Other Expenses e.g. PRTB fees, paid for the year.