My wife and I rented out our house in April 2013 and moved house for a number of reasons (to be nearer to her father as he had cancer, our family was growing and the house was too small, my wife moved jobs and the move meant a smaller commute for her).
Our TRS was cancelled on our last mortgage direct debit.
We received correspondence from the Revenue requesting a declaration to be filled in to confirm that our house is our Primary Residence, and they want a copy of a utility bill to confirm it.
What my wife and I didnt realise is that the TRS is not applicable if we have our house rented out and are living somewhere else. We thought it was applicable to our first mortgage regardless, which this is.
Our second issue is that we never registered the tenancy with the PRTB. It was always on the long finger and now here we are a year later before we realised it!
My question is what are the implications of not having registered the house with the PRTB last year, and am I right in assuming we may have to pay back the TRS we received throughout last year on the property?
I'm looking to see what the worst case is financially.
My wife is on maternity leave so our income is down big time at the moment with just my wage and her maternity benefit coming in.
We're not making any money on the move as we have our house rented out for 600 Euro per month, the house we have been renting for the last year cost us 625 Euro and our mortgage was 790 Euro, now gone up to 905 Euro since the TRS has been cancelled.
Any advice would be greatly appreciated.
Thank you!
Our TRS was cancelled on our last mortgage direct debit.
We received correspondence from the Revenue requesting a declaration to be filled in to confirm that our house is our Primary Residence, and they want a copy of a utility bill to confirm it.
What my wife and I didnt realise is that the TRS is not applicable if we have our house rented out and are living somewhere else. We thought it was applicable to our first mortgage regardless, which this is.
Our second issue is that we never registered the tenancy with the PRTB. It was always on the long finger and now here we are a year later before we realised it!
My question is what are the implications of not having registered the house with the PRTB last year, and am I right in assuming we may have to pay back the TRS we received throughout last year on the property?
I'm looking to see what the worst case is financially.
My wife is on maternity leave so our income is down big time at the moment with just my wage and her maternity benefit coming in.
We're not making any money on the move as we have our house rented out for 600 Euro per month, the house we have been renting for the last year cost us 625 Euro and our mortgage was 790 Euro, now gone up to 905 Euro since the TRS has been cancelled.
Any advice would be greatly appreciated.
Thank you!