shoppergal
Registered User
- Messages
- 172
Sounds to me like you were a home owner whether you meant to be or not. Especially if your name was one the mortgage and deeds of the property in question. As such it would seem to be the case that you are not a first time buyer and both you and your boyfriend would only qualify for non FTB rates of mortgage interest tax relief.At the time for financial reasons my name and income were included on the mortgage application and as far as i know on the property deeds as well.
Now I've never claimed any mortgage relief on the mortgage on the house and don't consider myself to be an "owner".
Not if this involves deliberate fraud. If the original poster's name was on the mortgage and property deeds of the other property then it certainly seems like s/he was a beneficial owner of the property in question regardless of whether or not that was the original intention. This would mean that filing a TRS claim as a FTB would be fraudulent. If in doubt get independent, professional advice.It's probably best just to complete the TRS forms as if you are a FTB.
But isn't the TRS on mortgage interest? If she has never paid mortgage interest then she should be entitled to the TRS.
both you and your boyfriend would only qualify for non FTB rates of mortgage interest tax relief.
(from the scant information provided it does appear you no longer have FTB status and as such you and your boyfriend will only be able to recieve the non FTB TRS).
I stand corrected.As far as I can see from Revenue this is not correct: OP has lost FTB status, and therefore is entitled to the lower rate of relief. *However* unless they are married and jointly assessed, and assuming they are contributing equally to the mortgage, then Revenue will allow the higher FTB rate to the boyfriend on his share only.
Worth crunching some numbers to ensure that the gain in TRS for your boyfriend (once you have married) is worth more than the gains in credits if any transfers may be available [e.g. if your both on the higher rate of tax you'll lose nothing and gain the TRS, if one of you is on the lower rate it will take a closer look to investigate any gains/losses].Where a house is purchased jointly by persons who are not married, or by a couple who are married but elect to be assessed to tax under separate treatment, each persons entitlement to mortgage interest relief will be reference to their separate circumstances.
As far as I can see from Revenue this is not correct: OP has lost FTB status, and therefore is entitled to the lower rate of relief. *However* unless they are married and jointly assessed, and assuming they are contributing equally to the mortgage, then Revenue will allow the higher FTB rate to the boyfriend on his share only.
[broken link removed]
(ref page 4)
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