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Rent a room relief

Rent a room relief

Rent-a-room relief

If you let a room in your home, the income you receive may be exempt from income tax, USC and PRSI

The income you receive must not exceed the exemption limit of €14,000. If it does then you are taxed on the total amount.

It can only be claimed by individual taxpayers.

However, you cannot claim the relief against income received for the use of the room(s) from:

  1. your child or civil partner
  2. an employer
  3. an employee
  4. short-term guests, including those who book accommodation through online booking sites.

The relief can apply to lettings used as residential accommodation for students in an academic year or term.

If this room being let is not attached to the property it cannot qualify for the relief.

Subject to additional qualifying conditions

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie

 

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