Revenue has access to the following information about you.
Do you have a letting agent looking after your property? If so, your letting agent has to return the rents you earn to Revenue.
They also receive information on the rental sector from;
- Residential Tenancy Board
- Department of Social Protection
- Housing Assistance Payment [HAP]
You also have to pay Local Property Tax [LPT] on your properties. If you have 4 properties you are not living in them all, so the expectation is that you are renting 2 or 3. Therefore, they know how many properties you have.
Are you Vat registered? If so, you will have to make Vat return to revenue during your accounting period.
In short, you have to tell Revenue:
- Your sales for the year and
- Your costs for the year
- Other Income
Two very topical sources:
- Share Options and
- Dividend Income
If you receive Share Options, you need to register for Income Tax and file a form 11. For dividend income, the company paying you the dividend has to file a return.