FTB TRS Question

M

moondance

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If I got First Time Buyer TRS on a house I built with partner but only lived there (and paid mortgage) for 2 years, how does the remaining 5 years of my first time buyer status TRS work? I'm buying another place now but there has been an interim period of a year when I have been renting so -

Is the First Time Buyer TRS for 7 consecutive years? Meaning I'm entitled to 4 more years.

Or will it take into account the year I haven't been paying mortgage and start again from when I do start paying a mortgage? Meaning I'd get 5 years FTB status TRS?
 
You have whatever you did not use of your 7 year FTB period left to use at some point in the future. It does not have to be consecutive. When you occupy another PPR and want to claim relief then Revenue will take account of your previously used up 2 years.
 
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