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TRS Advice...

Grandadsbear · 2010-01-08 13:28:10

Hoping someone can shed some light... I drew down the 1st stage of a phased payment mortgage 20th December 2007, with 1st payment to First Active to be paid 20th January 2008. Now I am being told by revenue that I am in the 4th year of TRS? I arugued this point with revenue this time last year but it got me no-where...Can…

08-01-2010 1:28pm

#1

Grandadsbear

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Join Date: March 2009

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Hoping someone can shed some light...

I drew down the 1st stage of a phased payment mortgage 20th December 2007, with 1st payment to First Active to be paid 20th January 2008.

Now I am being told by revenue that I am in the 4th year of TRS? I arugued this point with revenue this time last year but it got me no-where...Can this be right?

If so, surely mortgage brokers/financial advisors should be only advising people to draw down mortgages in January so that they can avail of full tax relief entitlements.

Also, as far as I understand, years 1-2 are 25% 3-5 are 22.5% and 6-7 are 20%...so why have first active increased my payments with effect from 20th Jan 2010 if surely I'm still at a relief of 22.5%?

All seems abit strange to me!!!

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