pay revenue before getting TRS??

[bungaro]

just wondering if anyone else is in this situation. got a letter saying we need to pay revenue nearly €800 before we can start getting our TRS of 30% paid to us. we took out our mortgage with aib in late 2008 and they gave us the option of 3 months without having to pay or the other option was no interest for the year. we went with the 3 months with no payment and apparently because of this we now owe revenue money for this?? anyone else get a letter like this??

 

[rameire]

technically if you are not paying at least the interest part of the mortgage you are not entitled to TRS.

if you had been receiving trs on your mortgage based on the interest being charged and not paying any repayments, then yes the revenue are well entitled to claim any over payments back from you.

 

[bungaro]

thanks rameire, makes sense to me now! didn't know that we got it for those 3 months, thought it was only once we actually paid ourselves but obviously not