Mortgage interset relief at source

Our man in Havana

My wife was getting her interest relief by refunds from the paye system. She now wants to get it at source as she no longer pays any tax.

Got the TRS form online. It asks for my details as well and asks if this is my first home loan.

Thing is its not my house. Its my wifes house, in her name, her mortgage. How does it work in this situation?

Thanks
007

spongebob

Ask in the tax office, they are very reasonable nowadays. Or else try Finfacts

M

Borzoi

Without stating the obvious - you have to pay tax to get tax relief, so it's unlikely.

As for you, if the house isn't at least part in your name, well , then the mortgage has nothing to do with you.

Sounds like your in one of those odd situations that the tax code just doesn't really treat that well.

Our man in Havana

Originally posted by Borzoi
Without stating the obvious - you have to pay tax to get tax relief, so it's unlikely.

As for you, if the house isn't at least part in your name, well , then the mortgage has nothing to do with you.

Sounds like your in one of those odd situations that the tax code just doesn't really treat that well.

Wasn't the whole idea of relief at soucre that non tax payers got relief whereas under the old system you had to have paid tax to get relief on interest?

007

Borzoi

No, I think the idea was to cut down on the bureaucracy of Bank-You-Your Employer-Revenue to Bank-Revenue. Now the revenue gets the information from the two dozen banks and building societies as opposed to the thousands of employers.

Victor

If your wife has little or no income, surely joint assessment would work out better? i.e. between the two of you, X is being earned and Y is being paid in interest.