The Irish Revenue Commissioners issued Revenue eBrief No. 300/24 on 5 December 2024, providing updated guidance on deducting pre-letting expenses for vacant residential premises. This update reflects changes to Section 97A of the Taxes Consolidation Act 1997 (TCA), as introduced by the Finance Act 2024.
This manual explains the conditions attaching to the deduction. The Finance Act 2024 extended the end date for the relief provided for in section 97A TCA to apply to expenditure incurred prior to 31 December 2027.
To qualify for deduction, pre-letting expenses must be incurred within 12 months prior to the property’s first letting after a vacancy period. This ensures that expenses are directly linked to the re-letting of the property.
The deduction for pre-letting expenses is capped at EUR 10,000 per property. This limit is intended to provide financial relief while keeping claims reasonable and within defined parameters.
Earlier, Ireland published the Finance Act 2024 (Act No. 43 of 2024) in the Official Gazette. This legislation was enacted on 12 November 2024 and includes provisions introduced in the Budget 2025 along with various administrative and technical amendments to the tax code.
