Revenue have informed us that our client, a residential property management company, can be exempt from filing a CT return where the following three criteria are met: 1. The company's only income is the service charges collected from apartment owners 2. Where part or all of the service charges collected is held in a deposit account, the liability on the interest accrued is €32 or less 3. The company manages residential property only. However, the company earns rentals from a telephone mast placed on the roof of the building. Do the rentals earned need to be treated separately from profits and taxed at 25%, as any surplus earned in the year is transferred to the sinking fund?
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