We have a client who is renting residential property to a Social Housing group in Co. Donegal and who incurs large amounts of loan interest on the cost of fitting out these properties. We are aware that an individual who rents out residential property has their loan interest restricted to 75% (although increasing to 80% from 1 January 2017). However our clients operates his Rentals via his UK Company and we are unsure if companies are also subject to the same 75% restriction. We would appreciate your advice if this restriction does indeed also apply to companies who rent out residential property in Ireland. We are filing a ROI Tax Return for the company and then claiming the subsequent Double Taxation Relief on their UK Tax Return.
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