Claiming tax back on a personal loan?

Hi guys,

If I get a personal loan, can I claim tax back on it? The reason I ask is that my wife took out a personal loan 2 years ago, the loan is over 3 years. Is it too late for her to claim tax back on it?
I heard this all from a third party so I am not sure if it's true. They told me it was possible to claim tax back on personal loans.

Thanks in advance!

You can claim it back once it is within the 4 year period.

You can only claim it back if you have been enhancing your home with fixtures and fittings that cannot be removed ie - if you got a loan to carpet the house - then that is not a valid reason, but if you did interior work or exterior work - that could qualify for the claim.


http://www.revenue.ie/en/tax/it/reliefs/interest-relief-home-loans.html

That's great, thanks for the info alexandra12

Remember that there is a maximum amount of interest relief you can claim each year. If you have a mortgage, you may have exhausted this already.