Harvester,
Once you start renting out your property you are no longer entitled to mortgage interest relief on it (instead you claim your interest expense as a deduction when working out your rental profit). If you are still receiving it at source from your bank you should get them to stop it asap. The relief you have received in error will obviously have to be repaid to the revenue commissioners.
Just a note on claiming interest as an expense: your mortgage provider should provide you with an annual interest statement giving you the figure you can claim. Also, you have to register with the prtb to claim the interest as an expense: www.prtb.ie
If you are unfamiliar with what expenses you can claim and how capital allowances work etc. you should get an accountant to prepare your return so you claim all the expenses you are entitled to and are in full compliance with your obligations.
Once you start renting out your property you are no longer entitled to mortgage interest relief on it (instead you claim your interest expense as a deduction when working out your rental profit). If you are still receiving it at source from your bank you should get them to stop it asap. The relief you have received in error will obviously have to be repaid to the revenue commissioners.
Just a note on claiming interest as an expense: your mortgage provider should provide you with an annual interest statement giving you the figure you can claim. Also, you have to register with the prtb to claim the interest as an expense: www.prtb.ie
If you are unfamiliar with what expenses you can claim and how capital allowances work etc. you should get an accountant to prepare your return so you claim all the expenses you are entitled to and are in full compliance with your obligations.