Wednesday 18 January 2017

Taxman to pursue golf contest 'landlords'

Edel Kennedy

Published 25/03/2011 | 05:00

HOMEOWNERS are planning to charge up to €19,000 to rent out their homes for a three-day golfing event later this year -- but they may face massive tax bills as a result.

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The Solheim Cup -- which is considered the premier event in women's world golf -- is being held in Meath in September.

The inflated prices are similar to those charged in 2006, when the Ryder Cup was held in the K Club, Co Kildare. Some homeowners sought €36,000 in payments for renting out their houses for just one week during that high-profile event.

However, the Revenue Commissioners has confirmed to the Irish Independent that officials will be making a note of the names and addresses of those who are offering accommodation to golfing enthusiasts attending the event in Killeen Castle. This includes following up on internet and newspaper advertising, and contacting the homeowners afterwards to ensure they are tax compliant.

A small number of homeowners were hit with tax bills after renting out their homes for five-figure sums during the Ryder Cup.

After the event -- and before the filing date for 2006 returns -- Revenue officials wrote to a number of people who had advertised their homes and "advised them of their obligation to return any profit on rent for income tax purposes".

Spot checks were also carried out on some of these returns to ensure they had been correctly filed. Most were found to be in order, but others who had not filed correct returns were subject to a full audit and hit with a tax bill.

Revenue officials plan to do the same this year to ensure people declare any additional income they earn during the event. In the host county for the golfing event, people are offering homes for rent in most towns, including Ashbourne, Ratoath, Trim and Navan.

One homeowner in Trim -- a 30-minute drive from Killeen Castle -- is offering their five-bedroom house for €19,000.

It boasts of added benefits including a "full fridge of goodies, breakfast, chauffeur-driven '07 Range Rover and house maid".

Another, in Ratoath, is seeking €13,500 for a four-bedroom house, but will also include a three-course evening meal and airport pickup.

And in Navan the owner of a one-bedroom apartment is seeking €2,900 for nine nights.

Most of the homes are available for one week.

Irish Independent

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