tax relief on home improvement loan?

H

hogg

Registered User
Messages
35
Hi
I heard you can get tax relief on loan for home improvements, I phoned Revenue (TRS dept) and they said I cannot get tax relief at source from them unless it was a top up mortgage . However they did say that I could get tax relief on my personal loan for home improvements and told me to contact my local tax office, which I did but they just keep putting me through to Revenue TRS dept.

has anyone applied for tax relief on personal loan for home improvements? if so, how /where do I apply?
Husband and I both had to take out 2 x large personal loans over 10 years for our extension as the bank refused to give us a top up loan on our mortgage unless we came off our nice tracker rate!!! So some tax back would be a help.
Thanks
H
 
You file at year end on your Form 12 with P60's & loan interest cert. There's a section of the form for interest on qualifying loans not relieved through TRS.

Bear in mind that mortgage + improvement loans are all subject to maximum alllowable amounts. Also any part of the improvement loan not wholly and exclusively for the improvements is not allowable.
 
In my opinion there should be no tax on home improvement loan. People who are intending to renovate their home must not pay taxes. If you are intending to remodel your home than I would like to recommend you [broken link removed]as they are good and are affordable when compared to others.
 


Unfortunately since AAM is an Irish based site and not a USA site, your suggestion regarding contractor recommendation is unlikely to be of assistance. You may also have misread the contaxt of the OP. In Ireland, the Revenue Commissioners grant tax RELIEF to those borrowing to improve their homes, not tax them as you seem to think.
 
You must log in or register to reply here.
Menu
Log in
Register