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How much relief am I due ?

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  • 20-10-2009 12:05pm
    #1
    MYSTICA1
    Registered Users Posts: 125 ✭✭


    Please Help!

    Can someone please help me ?
    I foolishly never claimed ( nor was it granted at source ) my mortgage interest relief from 2005 to 2007. I purchased a house ( First Time Buyer ) in March 2005. I got married in June 2009. My interest payments per year were .. 2005 € 5,833 2006 € 10,446 2007 € 10,844. I'm sorry I'm so dumb but I can't work out how much I am due in relief for those years. Can someone please help ?


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    #2
    puppy cat
    Registered Users Posts: 64 ✭✭puppy cat


    Best thing to do is ring the Revenue TRS Helpline, tax relief at source, the number is 1890463626.

    Have your PPS number handy to tell them over the phone.

    They'll explain everything to you and you will also need to contact your mortgage provider.

    Ring the TRS guys NOW! don't leave it go any longer without doing anything.

    Good luck.


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    #3
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    There is a 4 year time limit so you had better get your claim in quickly for 2005 or you wont get anything!

    http://www.revenue.ie/en/tax/it/leaflets/tax-relief-source-mortgage-interest-relief.html


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    #4
    MYSTICA1
    Registered Users Posts: 125 ✭✭MYSTICA1


    Thank you so much for your replies,
    I actually have already send in the claim form ( In July !! )
    I rang them the other day to see how the claim was progressing & then they realised they had made a mistake with my mortgage account number.
    But the girl on the phone said I should only expect around € 800 for '05 & '06 & around €1600 for '07. I expected more than that especially for '06 where I paid more than €10k in interest .. Does that sound right to you >?

    Thanks a million again !


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    #5
    puppy cat
    Registered Users Posts: 64 ✭✭puppy cat


    MYSTICA1 wrote: »
    Thank you so much for your replies,
    I actually have already send in the claim form ( In July !! )
    I rang them the other day to see how the claim was progressing & then they realised they had made a mistake with my mortgage account number.
    But the girl on the phone said I should only expect around € 800 for '05 & '06 & around €1600 for '07. I expected more than that especially for '06 where I paid more than €10k in interest .. Does that sound right to you >?

    Thanks a million again !

    Well I know that they're WAY behind on dealing with applications for tax relief. I think it was about 4 months behind last time I spoke to them.

    As for the amounts, they are what they are unfortunately. There is a cap on the amount of relief any of us get, it's not based on the figure you have paid in interest. So if you pay €10k interest or €50k interest in the year you will still only get the maximum amount allowable. Still though, it's better than nothing!

    I have the actual figures somewhere but can't find them at the moment. You'll probably find them on www.revenue.ie if you search and search and search.......


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