|Home| Info| Community| Business| Beaches| What to do?| Rentals| News| Forum| Blogs| Finance| History| FAQ| Contact|
Tourism certificate for part of house
Tourism certificate for part of house
We have a house in the Algarve, and consider renting part of it out. I have tried to read up on the rules, but a few of things are not clear to me:
- Electricity and gas certificates. Is it the whole house or only the rental part that needs to be approved? Or is it a "depends"?
- Does the rental influence IMI?
- What is the IVA threshold?
- If we need to pay IVA, are we also able to deduct reasonable expenses (gas for that part of the house)?
Sorry if this has already been debated, I just did not find it.
- Electricity and gas certificates. Is it the whole house or only the rental part that needs to be approved? Or is it a "depends"?
- Does the rental influence IMI?
- What is the IVA threshold?
- If we need to pay IVA, are we also able to deduct reasonable expenses (gas for that part of the house)?
Sorry if this has already been debated, I just did not find it.
al
Stork
Please read the postings on my" AL Rental licensing process" on this forum, it may answer most of your questions.
You will need a full RENTAL LETTING "AL"Lincense even if it is for the part of the property. Also you will need full gas, and electricity inspection, and now also ENERGY CERTIFICATE you can read my posting on Energy Certificate on this forum.
I suggest you you get a professional companies to sort this out, if you need any recommendation SEND ME A PRIVATE MESSAGE.
This is a lengthy process so give it at least 6-8 months with bit of luck. You can claim back 15% of tax due on rental income, and accounts should be filed,,with tax office, and all rental income declared, and take my advise please make sure you keep all the purchase,and planning papers in order and make sure they are upto date, as you will need them, and it will save you lot of hassel later, and BELIVE ME ,DO NOT TRY TO CUT CORNERS, as the silly season in nearly upon us, when the inspectors from ASEA, will be making spot check on properties, and agents, and also tax authorities will be clamping down on offenders, and the fines could vary from euro 1000, upto Euro 30,000, and they dont take any Prisoners, they just send you the fine and estimated bill, and if not paid within a short time scale they will just confiscate your property and dispose it off.
Also be prepared to spend around 1600 euros for this 2 processses.
As you will see from the postings on this forum there are some good posts, and guidance posted .
Good luck, and welcome to Portugal.
Feel free to contact me if you think i can be of further help..
Bondi.
Please read the postings on my" AL Rental licensing process" on this forum, it may answer most of your questions.
You will need a full RENTAL LETTING "AL"Lincense even if it is for the part of the property. Also you will need full gas, and electricity inspection, and now also ENERGY CERTIFICATE you can read my posting on Energy Certificate on this forum.
I suggest you you get a professional companies to sort this out, if you need any recommendation SEND ME A PRIVATE MESSAGE.
This is a lengthy process so give it at least 6-8 months with bit of luck. You can claim back 15% of tax due on rental income, and accounts should be filed,,with tax office, and all rental income declared, and take my advise please make sure you keep all the purchase,and planning papers in order and make sure they are upto date, as you will need them, and it will save you lot of hassel later, and BELIVE ME ,DO NOT TRY TO CUT CORNERS, as the silly season in nearly upon us, when the inspectors from ASEA, will be making spot check on properties, and agents, and also tax authorities will be clamping down on offenders, and the fines could vary from euro 1000, upto Euro 30,000, and they dont take any Prisoners, they just send you the fine and estimated bill, and if not paid within a short time scale they will just confiscate your property and dispose it off.
Also be prepared to spend around 1600 euros for this 2 processses.
As you will see from the postings on this forum there are some good posts, and guidance posted .
Good luck, and welcome to Portugal.
Feel free to contact me if you think i can be of further help..
Bondi.