TRS on mortgage

irishgeo

my tracker mortgage went up last month but i noticed the Tax Relief at source payment went down?

How is this? I thought it increased when the interest rate increased.

seamus

It should have. Any chance that you've rolled over into another year, where your TRS entitlement drops?

mickoneill30

When my TRS changed I contacted revenue. They told me the bank estimates the amount of TRS due to me at the start of the year and if it's incorrect or if it changes (I make more or less payments) it's adjusted during the year.

Have you calculated how much TRS you're due this year and are your payments in line with this?

As far as I know (could be wrong here) but the new year for everybody in terms of TRS is January. It's not the first month that your mortgage started.

irishgeo

seamus wrote: »

It should have. Any chance that you've rolled over into another year, where your TRS entitlement drops?

ill have to look into that. would the revenue know that?

just been on to the revenue,

they are a month behind the banks on figures so can only tell me march figure. not April and that i need.

i started in 2006 , so its due to reduce in 2013.

now do i calculate my trs due this year?

considering i am on a tracker and making an overpayment.

rameire

for calculation of trs may i suggest this thread on another site i created.

http://www.askaboutmoney.com/showthread.php?t=131548

jim69

if i havent claimed trs for a few years can it be backdated

rameire

jim69 wrote: »

if i havent claimed trs for a few years can it be backdated

yes.
you need a trsP form which you can download from revenue.ie

jim69

thanks,will check out