Revenue eBrief No. 314/24
13 December 2024
Residential Premises Rental Income Relief (RPRIR)
Tax and Duty Manual 15-03-04, dealing with the Residential Premises Rental Income Relief (RPRIR) in section 480C Taxes Consolidation Act 1997, has been updated to reflect amendments in Finance Act 2024.
Paragraph 2 has been updated to reflect the amendment which provides that the relief is not available in circumstances where a landlord has an overall Case V, rental income loss or where the landlord's overall rental profit is lower than the amount of the RPRIR.
Paragraph 4 has been updated to state that the death of a landlord will not trigger a claw-back of RPRIR, and that, 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.
The third amendment ensures that 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.