Can Mortage Interest Relief be backdated if not claimed?

P

Pope John 11

Registered User
Messages
760
A friend of my has recently put this question to me which i could not answer. Perhaps AAM can help!

A friend of a friend purchased a house two years ago as a 1st time buyer but has forgotten to register the house as his principal sole residence. Can he now backdate to claim mortage interest relief in lieu of the rent relief which he has been getting for a previous house that he was living in.

Has anyone had this experience. The person would have postal information to prove that he has been living at this residence. Any comments welcome.
 
Re: Not known about Mortage Interest Relief

He needs to complete form [broken link removed] for the mortgage to get it set up for TRS for now on.

He needs to complete [broken link removed] for the back years claims.

He should contact Revenue to get the rent relief removed from his tax credits. He can do that by ringing the LoCall number on his tax credit cert.
 
Re: Not known about Mortage Interest Relief

Graham 07
Cheers for that information.

Could you tell me if it is possible for him to claim back the last two years of his mortage interest relief even though he hasn't registered his home with the reven ue commissioners as of yet & and in return ask the Revenue commissioners to take back the last two years rent relief which he has accidently claimed.

Does this stand correct Grahem 07 or any opinions by anyone else?
 
Last edited:
Re: Not known about Mortage Interest Relief

Pope John 11 said:
Graham 07
Cheers for that information.

Could you tell me if it is possible for him to claim back the last two years of his mortage interest relief even though he hasn't registered his home with the reven ue commissioners as of yet & and in return ask the Revenue commissioners to take back the last two years rent relief which he has accidently claimed.

Does this stand correct Grahem 07 or any opinions by anyone else?
Click to expand...

1) You use the TRSP form as above to claim the back years.
1) You get Revenue to do Balancing Statements for the last two years removing the rent relief.

You have to deal with the back years on the TRSP form, you cannot do the TRS and the removal of the rent relief as one in the same calculation.
 
Re: Not known about Mortage Interest Relief

Graham_07 said:
1) You get Revenue to do Balancing Statements for the last two years removing the rent relief.
Click to expand...

Is this legal Graham 07 to do this & would he have to register his house on another form to clearly state that this is his principal main residence????

So you are saying he can return the rent relief to the revenue commisioners, and he can claim back the the last 2 years mortgage interest relief in lieu of the rent relief. Do I stand correct on this? I just want to be clear on this one.

So would I be correct that he would be due back as below for years '06 & '07 ie. (Mortgage Relief) - (Rent Relief) = Correct Relief Due

(800+1,600)- (330+360) = 1,710euro, Is this correct?
 
Graham,
Filled in TRS online approx one year after purchasing and got the full years relief deducted from the next months payment.
 
flattea2 said:
Graham,
Filled in TRS online approx one year after purchasing and got the full years relief deducted from the next months payment.
Click to expand...

Any current tax year relief is dealt with in the current year. So if you bought in January & claimed in November of same year then you would get the relief all together. The Revenue state clearly on the TRSP form that you must use that for any back year claims. i.e. any claim for TRS in a tax year prior to the current tax year. Of course individual cases & institutions might not always run according to what is suggested.
 
Re: Not known about Mortage Interest Relief

Pope John 11 said:
Is this legal Graham 07 to do this & would he have to register his house on another form to clearly state that this is his principal main residence????
Click to expand...

What is NOT legal is to be continuing to claim relief to which he is not entitled ( i.e. rent relief)

If the residence is correctly his PPR since day one then he is entitled to the TRS on it. If he has not been paying rent in the last two years then he is not entitled to that relief. Revenue take a dim view of claims to reliefs to which a person is not entitled. When you complete the TRS form you are, de facto, stating it is your PPR. There is no form as such on which one declares ones PPR. It is simply a matter of fact, either it is or is not ones PPR. If he has any doubt perhaps a call to his Revenue office would settle the matter for him.
 
Re: Not known about Mortage Interest Relief

Graham_07 said:
What is NOT legal is to be continuing to claim relief to which he is not entitled ( i.e. rent relief)
Click to expand...

I agree with you on this one, so the best steps for him to take would be to:

1. Rent Relief - Call the Revenue Commissioners & get the last 2yrs rent relief deducted.
2. Mortgage Interest Relief - Fill up both the TRS & TRSB forms to claim current & backdated interest relief respectively.

Hope this is the way to go...cheers for the advice.
 
Re: Not known about Mortage Interest Relief

Graham_07 said:
What is NOT legal is to be continuing to claim relief to which he is not entitled ( i.e. rent relief)
Click to expand...

I agree with you on this one, so the best steps for him to take would be to:

1. Rent Relief - Call the Revenue Commissioners & get the last 2yrs rent relief deducted.
2. Mortgage Interest Relief - Fill up both the TRS & TRSB forms to claim current & backdated interest relief respectively.

Hope this is the way to go...cheers for the advice.:)
 
Graham_07 said:
Any current tax year relief is dealt with in the current year. So if you bought in January & claimed in November of same year then you would get the relief all together. The Revenue state clearly on the TRSP form that you must use that for any back year claims. i.e. any claim for TRS in a tax year prior to the current tax year. Of course individual cases & institutions might not always run according to what is suggested.
Click to expand...

Sorry meant to address that to OP, not to Graham - you are of course correct Graham
 
Yes it can

Try leaving it off for a year or two and then applying for it.

You can save a few grand nice and handy that way.

Ching Ching
 
You must log in or register to reply here.
Back
Top