Section 23 relief query?

[Bobbyg]

Hi,

I bought an apartment with my girlfriend last year that qualifies for section 23 relief. We currently live there and claim the section 23 owner occupier relief. We are thinking of moving out and renting the apartment out, can anyone tell us how this effects the owner occupier relief? If we move out and rent the apartment out are we then entitled to any other relief under section 23? Thanks in advance.

 

[Domo]

You in fact have "Owner Occupier Relief" which is not the same as "Section 23 Relief", although they are calculated in the same way.

It is not possible to claim both owner occupier relief and serction 23 relief on the same property at different times - this has been stated by the Revenue.

Therefore if you rent out your property you will not receive Section 23 relief

 

[Bobbyg]

Thanks. That really sucks considering I have only been in the apartment a year.