Budget 2018 for landlords

A: There are two things that you need to be aware of:

1. Budget 2018 introduced a new deduction you can make for 'pre-letting' expenses. You can claim for these up to a maximum of €5,000 per property. These pre-letting expenses should be of a revenue nature i.e. in relation to the letting and not for building works etc. This could result in a potential tax saving of approximately €2,438 for you. 
2. Make sure you are claiming the right amount of mortgage interest relief. For 2017 you can deduct 80% of the interest you pay on your mortgage however in 2018 this will rise to 85%. This effectively means an additional €5 tax deduction for every €100 you have spent on mortgage interest in 2018.

Date published 10 Oct 2017

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.