Finance Act 2022 introduced a new rent tax credit that is available for the tax years 2022 to 2025 inclusive. Revenue has created a new Tax and Duty Manual that outlines the conditions which must be met in order to claim the new rent tax credit. The manual also outlines the process for claiming the credit.
PAYE taxpayers can claim the 2022 rent tax credit by filing a Form 12 via MyAccount PAYE Services, while self-assessed taxpayers can claim the rent tax credit when filing their Form 11 via ROS. In addition, PAYE taxpayers have the option of claiming their 2023 rent tax credit in 2023 by using Revenue’s Real Time Credit facility. In such instances the credit will be apportioned equally over the tax year.