thumbelina
Registered User
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- 56
Hi,
I am trying to find out whether we should have been entitled to Tax Relief at Source (TRS) over the past number of years, the main question is really whether you just get it for a period of 7 years in total or whether it rolls on as long as the Revenue are paying it. I'm aware that it is tapering over the last few year and is currently scheduled to finish on the 31st December 2020.
Here is a quick summary of the timeline:
* Couple (happily unmarried) purchase first house together in 2003, TRS is paid - all good
* Couple get happily married in 2005 - TRS is still paid, all good
* Couple (still happily married) in 2006 decide to upgrade to new house, sell old house, TRS still paid on new house - all good
* Couple (still happily married) in 2010 receive last TRS payments - 7 years since purchase of original house (approximately)
* Couple (still happily married) in 2020 realise that perhaps they should have been getting TRS between 2011 and today
Point to note is that we both file Form-11s every year but I was under the impression that the bank should have been handling the processing of TRS.
So, the question is - did we just get a 7 year payment of TRS and that's it - or should we have been receiving it on an ongoing basis (I know there were reductions in the rates and caps applied in the intervening years).
Thanks for any help.
I am trying to find out whether we should have been entitled to Tax Relief at Source (TRS) over the past number of years, the main question is really whether you just get it for a period of 7 years in total or whether it rolls on as long as the Revenue are paying it. I'm aware that it is tapering over the last few year and is currently scheduled to finish on the 31st December 2020.
Here is a quick summary of the timeline:
* Couple (happily unmarried) purchase first house together in 2003, TRS is paid - all good
* Couple get happily married in 2005 - TRS is still paid, all good
* Couple (still happily married) in 2006 decide to upgrade to new house, sell old house, TRS still paid on new house - all good
* Couple (still happily married) in 2010 receive last TRS payments - 7 years since purchase of original house (approximately)
* Couple (still happily married) in 2020 realise that perhaps they should have been getting TRS between 2011 and today
Point to note is that we both file Form-11s every year but I was under the impression that the bank should have been handling the processing of TRS.
So, the question is - did we just get a 7 year payment of TRS and that's it - or should we have been receiving it on an ongoing basis (I know there were reductions in the rates and caps applied in the intervening years).
Thanks for any help.