TRS Paid to Revenue - Mortgage Interest Relief affected?

funbobby

Registered User
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Hi Folks,

I've spent a number of hours on AAM to try to understand if there is an impact on previous mortgage interest relief figures after subsequently settling TRS with Revenue. Any help appreciated. I've used dummy figures below to keep my question as clear as possible.

I left my property in 2013 but didn't inform Revenue until 2015.

My 2013 mortgage interest as per statement issued 31/12/13 was 10,000 and I claimed 7,500 (at 75%) mortgage interest relief. The rent was 8,500 so I paid tax on 1,000.

My 2014 mortgage interest as per statement issued 31/12/14 was 10,000 and I claimed 7,500 (at 75%) mortgage interest relief. The rent was 9,500 so I paid tax on 2,000

In 2016, I paid TRS to Revenue of e1000 for 2013 and e1,500 for 2014.

My question is, can paying the TRS to Revenue have any impact on the mortgage interest figures?

( I am up-to-date with PRTB, NPPR, etc.)

Many Thanks

FunBobby
 
The key question is how much interest did you pay?

If €10,000 was the interest for the year then than the basis that you claim.

If the €10,000 is the amount after the TRS then you have underclaimed.
 
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