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Mortgage Interest Tax Credit

  1. Overview
  2. Qualifying conditions
  3. How much can you claim?
  4. Interest paid for less than a full year
  5. More than one claimant
  6. How to claim

More than one claimant

Note

If you drew down your mortgage in 2022 and were registered for Local Property Tax in 2023, you may be unable to claim the Mortgage Interest Tax Credit. This is due to a Revenue system error. A fix is currently scheduled to go live on 7 September 2024. We apologise for any inconvenience caused and thank you for your patience.

Only one tax credit is available per property. Where there is more than one eligible claimant, the tax credit must be apportioned between the claimants.

The relief is split based on the amount of interest paid by each individual. It will take into account the period for which that interest was paid in 2022 and 2023. 

  • Example

    Jack and Diane are a cohabiting couple with a qualifying loan for 2022 and 2023. Jack paid 80% of the interest and Diane paid the remaining 20%.

    When calculating the relief, it will be apportioned based on the amount of interest paid by each person and the relevant time periods of the qualifying loan.

Revenue systems will calculate the relief due to you when you provide the relevant information.

For the formula used to adjust the relief granted, please see Tax and Duty Manual Part 15-01-11B.

Next: How to claim

Published: 02 July 2024 Print this page

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