Revenue has updated the Tax and Duty Manual which provides guidance on the Residential Premises Rental Income Relief (RPRIR) available under section 480C TCA 1997. The updated manual reflects amendments introduced by Finance Act 2024.
The key changes are as follows:
- Relief is not available where a landlord has an overall Case V rental loss or where the landlord's overall rental profit is lower than the amount of the RPRIR (paragraph 2).
- The death of a landlord will not trigger a claw-back of RPRIR (paragraph 4).
- Where an individual is no longer entitled to the relief, the amount of relief clawed back will be the same as the amount of relief claimed.
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