Claiming tax back on a personal loan?

[livEwirE]

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!

 

[Guest110]

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

 

[livEwirE]

That's great, thanks for the info alexandra12

 

[MugsGame]

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.