# Tracker redress appeal question



## shay23b (23 Mar 2018)

I have just received my compensation and redress from my bank. My property was a buy to let and not my actual home.
I received just under 10% compensation after being charged a rate of 5.35% for 10 years instead of 1.35%% as it is now. I was hoping someone could help with a question I have.
As it is a rental property I had to fill out a tax return each year. I could offset a percentage of my mortgage interest paid in the previous tax year against my gains. As the interest rate was so high this was a lot of money. 
Do I have to declare to revenue that my bank made a mistake with my interest rate?
In fact I probably owe revenue money for filling out incorrect tax returns for 10 years? 
Would anyone have any experience with this situation. Would you think I can put this in my appeal?
I will be seeking professional advice but I was hoping someone might know something.
Thanks in advance for any replies.


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## Aisling1 (23 Mar 2018)

As far as I am aware the banks have committed to deadline with the revenue with regards to this , I’ve read it somewhere in this forum just can’t remember where


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## peemac (24 Mar 2018)

You did not fill out incorrect returns as you used verifiable figures that applied at that time. So nothing to be concerned about on that issue. 

Now due to an error made in which you had no part of, you may have a liability for this year and professional advice is needed. 

There is no tax due on the compensation element you received.


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