Mortgage Interest Relief (Tax Relief at Source - TRS)

What type of loan does not qualify?

The following loans do not qualify for Mortgage Interest Relief:

• loans taken out after 31 December 2012
• loans taken out before 1 January 2004
• loans taken out on properties that are not:
  • your home
  • the home of your former, or separated, spouse or civil partner
  • the home of a dependent relative for whom you are claiming a Dependent Relative Tax Credit
• and
• loans for investment, rental or a second property.

You must notify Revenue by completing a TRS4 Form and returning it to the address quoted on the form if you are getting Mortgage Interest Relief on:

• a property that is no longer your home. An example would be if you moved out and now rent out the property
• a property that was never your home
• and, or
• a loan that was also used to finance non-house expenses, for example, a holiday or a car. In this case, you can only claim relief on the portion of the loan used on your home.

If you do not notify Revenue in a timely or efficient way, any relief that you have received can be demanded and collected by way of court proceedings.

You may then have to pay court costs as well as the overpaid relief.

If you are in the business of renting property, mortgage relief is available through the tax system. You should contact your Revenue Office for more information.

How do you re-pay Tax Relief at Source (TRS) that has been overpaid?

You can repay any overpaid TRS online through myAccount by either:

• using a debit card or credit card
• or
• filling out a Single Debit Instruction using a bank account.

Next: How do you claim Mortgage Interest Relief for 2020?