Readers are reminded that 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, apportioning the credit equally over the tax year.
Revenue's preliminary statistics for 2023 Q1 review indicate that over 226,000 Rent Tax Credit claims have been made by over 209,000 PAYE taxpayers. Of these, 89 percent of the tenancies are registered with the Residential Tenancies Board (RTB) with 11 percent being ‘rent-a-room’ or ‘digs’.
With only 1.7 percent of claims for rent payments made on behalf of children, all other claims refer to the individual’s own rental payments. To claim the rent tax credit for rent paid for a taxpayer’s child, the property must be registered with the Residential Tenancies Board (RTB) and used by the claimant’s child as their principle private residence to facilitate their study obligations. Properties that are rented for the child under a ‘digs’ or ‘rent-a-room’ arrangement or that are RTB exempt will not qualify for the rent tax credit.