Thompson's group $T$ gives an example, i.e. if $T \le H$ has finite index, then $H^\ast(H;\mathbb{Q}) \neq 0$.
More specifically, there is always a non-trivial class in $H^4(H;\mathbb{Q})$.
Proof: Step 1: $T$ is normal in $H$
Since $T$ has finite index in $H$, $T_0 := \bigcap_{h \in H/T}hTh^{-1}\le T$ is a finite index, normal subgroup of $H$ (and $T$). But $T$ is infinite simple, so $T=T_0$ is normal in $H$.
Step 2: Since $T$ is normal, $H^\ast(H;\mathbb{Q})=H^\ast(T;\mathbb{Q})^H$.
By work of Ghys & Sergiescu, $H^2(T;\mathbb{Z})= \mathbb{Z}^2$ is generated by the Euler class $x'$ of $T$ and the Godbillion-Vey class $y'$. The corresponding rational classes $x=i(x')$ and $y=i(y')$ where $i: H^\ast(T;\mathbb{Z}) \to H^\ast(T;\mathbb{Q})$ generate the rational cohomology ring as $H^\ast(T;\mathbb{Q})=\mathbb{Q}[x,y]/(xy),\,\,|x|=|y|=2$.
I'll show that $x^2 + y^2$ is invariant under the action of $H$. Let $c: T \to T$ be conjugation by an element from $H$. Hence $c^\ast$ induces an isomorphism on $H^2(T;\mathbb{Z})$. Write $c^\ast(x')=ax'+by',\, c^\ast(y')=cx' + dy'$ with integers $a,b,c,d$ s.t. $ad-bc= \pm 1$. Since $c^\ast$ commutes with $i$, we find $c^\ast(x)c^\ast(y)=acx^2 + bdy^2$. But also $c^\ast(x)c^\ast(y)=c^\ast(xy)=0$ because $xy=0$. Hence $ac=0$ and $bd=0$. Thus $$c^\ast(x)=\pm x,\, c^\ast(y)=\pm y\quad \text{or}\quad c^\ast(x)=\pm y\,,c^\ast(y)=\pm x$$ In either case, $c^\ast(x^2+y^2)=x^2+ y^2$. qed