Local homes being offered at up to €15,000 for Solheim Cup

Property-owners intending to rent out their apartments or houses for the three-day Solheim Cup golf event in Meath later this year have been warned that they will have to pay up their share of tax on their profits. The competition is considered the premier event in women's golf and, while it may not attract as large numbers of golfing enthusiasts as the Ryder Cup did at the K Club in 2006, organisers are confident that it will bring a legion of fans who will want to be at Killeen Castle from 23rd-25th of September. Meath County Council and tourism interests said last week that 70 per cent of the available accommodation registered with them has been booked. However, there are still numbers of people throughout the county offering accommodation aimed at golfing enthuusiasts and media organisations. Accommodation offered on the internet include a four-bed house Navan for €13,500 (including pick-up from airport, fridge filled daily for breakfast and a cook available on request), and a luxury four-bed house 25 minutes from Killeen Castle for 7-10 days for €13,000. A three-bed house in Ashbourne is asking €9,000; a six-bed house in Dunsany, €8,000; a five-bed house in Trim, €15,000; a three--bed house in Dunshaughlin for €8,000, and a four-bed dwelling in Kilmessan for €10,500. When the Ryder Cup was held five years ago, Revenue officials took note of advertisements offering accommodation for rent through the internet and newspaper advertisements. Subsequent to the event and before the filing date for returns, the owners were contacted and advised of their obligation to return any rental profit for income tax purposes. "Spot checks were carried out on a proportion of these returns when they were received. A similar approach will be taken in relation to the Solheim Cup. Revenue uses all information available, including information in the public domain, to inform its audit and investigation activities," a spokesperson said. In general and subject to terms of the final agreement between the parties, income arising from the letting of a house in these circumstances would be chargeable to tax as rent, Revenue said. The follow-up by Revenue involves contacting the property-owners after the event to ensure they are tax-compliant. Owners have also been advised that they will not be able to spread the tax liability on profits over a number of years. People contacted by the Revenue were advised of their obligation to return any profit rent for income tax purposes and a number of spot checks were done on these to ensure that they had been correctly filed.