The NPPR charge has not been deductible for landlords against rental income for income tax purposes. However, a recent High Court case has determined that the NPPR charge is an allowable deduction.
Revenue has lodged an appeal against the High Court decision. Repayment claims made to Revenue, within the 4-year statutory time limit, will be retained until the outcome of the appeal is known.
Further to this recent development, it may be advisable for landlords to make a protective claim.
An online facility to notify Revenue of repayment claims in relation to this matter will be available on their website from 3 April 2017.
For further details, please contact a member of the tax team.