just married, now in wifes house

C

clonboy

Registered User
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hi all

got married in october, and now live in my wifes house, she bought this before we met, lucky me, she is in full time work and mortgage is taken DD

i dont have a house all though i have a site and we intend to build, so just looking at mortgages right now,

anyhow my q is, as i am self employed i dont really have a lot of expenses to claim back on, i do however pay the household bill etc, but if i help towards the mortgage, am i entitled to any form of tax relieft,

Thanks all
 
hi,

yea as a married couple you are entitled to a married trs allowance, it doesn't matter who owns the house. contact trs and you'll probably be required to send in a marraige cert and then they'll change the allowance, it is taken directly off the repayments, that's what happened with us and I had bought the house on my own before we married... lucky him on paper but i'm sure like me your worth more than any house.

congrats on you wedding and best of luck.
 
udnewhouse said:
hi,

yea as a married couple you are entitled to a married trs allowance, it doesn't matter who owns the house. contact trs and you'll probably be required to send in a marraige cert and then they'll change the allowance, it is taken directly off the repayments, that's what happened with us and I had bought the house on my own before we married... lucky him on paper but i'm sure like me your worth more than any house.

congrats on you wedding and best of luck.
Click to expand...

I am in a similar sort of situation to the OP, but have another question.

I bought my house 7 years ago and have been availing of TRS. I believe this only lasts for 7 years.

I too got married recently, but the mortgage still comes out in my name and out of my account.

Could we be entitled to TRS again now under my wife's name? OR perhaps as a married couple?
 
RMCF said:
I am in a similar sort of situation to the OP, but have another question.

I bought my house 7 years ago and have been availing of TRS. I believe this only lasts for 7 years.

I too got married recently, but the mortgage still comes out in my name and out of my account.

Could we be entitled to TRS again now under my wife's name? OR perhaps as a married couple?
Click to expand...

As in reply 2 above you can claim married TRS. TRS lasts as long as you pay the mortgage. In the first 7 years you just get a higher ceiling on interest paid. Obviously as long as your spouse remains off the mortgage deed there will be no question of her claiming the increased ceiling.
 
davidoco said:
As in reply 2 above you can claim married TRS. TRS lasts as long as you pay the mortgage. In the first 7 years you just get a higher ceiling on interest paid. Obviously as long as your spouse remains off the mortgage deed there will be no question of her claiming the increased ceiling.
Click to expand...

Thanks for that davidoco.

Could you perhaps clarify a few things:

1) Does my wife's name have to be on the deeds to avail of married TRS allowance? Because I asked the AIB about this and they said that this would involve solicitors and additional cost - cost which they felt was unnecessary as it can just continue to come out of my account and be in my name.

2) We are considering building a house in the next 3 or 4 years - how will my claiming TRS already and her starting to claim it now affect us in the future? Will it at all? Is there any reason to keep her name out of the system now and introduce her on the new build, which might qualify her as a first time buyer?

Any advice appreciated.
 
RMCF said:
1) Does my wife's name have to be on the deeds to avail of married TRS allowance?
Click to expand...

As udnewhouse said above you should contact TRS section in Revenue now and claim TRS as a married person with higher bands.


RMCF said:
2) We are considering building a house in the next 3 or 4 years - how will my claiming TRS already and her starting to claim it now affect us in the future? Will it at all? Is there any reason to keep her name out of the system now and introduce her on the new build, which might qualify her as a first time buyer?
Click to expand...

On reason to not claim TRS now (remember nothing to do with deeds) is that on a new mortgage on new build she may be able to claim the upper limit for her half, for which you'll have to do the sums to see if it worth holding off.

You'll really should go get the figures for how much interest you actually pay per year, how many years you have this mortgage, if it is your first one, how much of a mortgage might you have on new build?
 
yes it seems to add me to the mortgage now on paper so to speak would involve additional costs, with solicitors etc,,

however i understand that with the new build and new mortgage, as we are now married it goes with out saying it will be in both our names,,

sound right??? i could be wrong
 
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