EXCLUSIVE: There has been a huge upsurge in the number of landlords across Donegal being visited by the Revenue Commission, a leading tax consultant has revealed.
Michael Coll of The Tax Clinic in Letterkenny said the Revenue are targeting people with second homes to see they are tax compliant.
Mr Coll said he has been inundated with queries by worried homeowners.
“These landlords have either been contacted by the Revenue directly regarding their rental properties and non-declared rental income or have decided to get their affairs in order before the inevitable letter from the Revenue arrives,” he said.
Michael says “that during the boom years many people bought second properties in Ireland and abroad that are now generating a rental income which they are obliged to declare on an annual Tax Return.”
But he said people with second homes should not be worried about contacting the Revenue.
He said “On a positive note there are many allowable expenses that can help reduce any potential tax bill such as, mortgage interest, insurance, repairs & maintenance etc.”
Those worried about becoming tax compliant on a second home or a rental property can log onto www.thetaxclinic.ie who also have offices at 40 Port Road in Letterkenny.
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