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 Post subject: trs and renting out
Posted: Mon Mar 10, 2014 8:36 am
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We currently deciding on whether to rent out our house and make the big move! Our trs is up in December anyway so not bothered about losing out the few months. However my dh said he read somewhere that if you rent out your house before 5 years you have to pay back all the trs? Does anyone know if this is true? I think he is mistaken. I have googled but to no avail. Thanks in advance


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 Post subject: Re: trs and renting out
Posted: Mon Mar 10, 2014 8:51 am
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I would say he has that mixed up with the clawback of stamp duty

http://www.revenue.ie/en/tax/stamp-duty ... wback.html

It wouldn't make logical sense to have to pay back TRS as you were resident in the house for the years it was claimed.


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 Post subject: Re: trs and renting out
Posted: Mon Mar 10, 2014 9:55 am
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I moved out while still in trs period. We are all legal and above board and when I rang revenue to cancel trs they never mentioned this.

I have few friends who are 'reluctant' landlords and this gas never come up.

I'd say he's mixed up


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 Post subject: Re: trs and renting out
Posted: Mon Mar 10, 2014 10:48 am
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Thanks so much for quick reply. I thought it wasn't right because it was a tax relief. Sorry now but I haven't a clue how these things work and went into buying a house with my eyes closed so the stamp duty needs to be paid back? We are living in it 4.5 years now. It says on site that you need to live in it for two years (so we have). So i dont know where he got 5 years from! Ah its all mumbo jumbo to me! We are reluctant landlords also! Sorry for all the (thick) questions.


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 Post subject: Re: trs and renting out
Posted: Mon Mar 10, 2014 10:36 pm
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Changes were made to that stamp duty claw back in 2007, it was always 5 yrs before that, maybe he was talking to someone that was only aware of the 5 yr rule.


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