Revenue has issued in excess of 20,000 letters to non-resident landlords and their collection agents to inform them of the changes to be introduced to the administration of withholding tax for non-resident landlords. The letters also contain details of the information the landlord will be required to supply to their collection agent or tenants.
The Non-Resident Landlord Withholding Tax system is expected to go live from 1 July 2023. The new system provides for tax withheld on rental payments by collection agents/tenants to be remitted and recorded, with scope for bulk uploads. Tax credited to the landlord will be pre-populated in their online tax return. Collection agents will no longer be chargeable persons in respect of the rent where they comply with the requirements of the new regime. The Institute has noted our members’ dissatisfaction with this burdensome requirement and we will continue to advocate for change to this cumbersome process.