Tax year defies logic

Tenger

Wondering if anyone else has run into this issue.

As per the revenue site
"This is also known as a tax year. It is the same as the calendar year, i.e. runs from 1st January to 31st December and not for any 12 month period......"

I recently got informed that my mortgage tax relief is being cut by over 2/3. (less than 2 weeks notice) I queried it with the bank and was told that this is because I am entering my 8th year of residence in my home.

I purchased in early Dec 2006.....so by my reckoning I am here 73 months now......that makes 6 completed years to me. Wasn't able to get through to revenue today,may not get through tomorrow either due to having a job during the day. Hopefully I can at least get to talk to someone there this week.

Basically I am getting screwed over 3 weeks....I did know this was eventually going to happen but I expected it in 12 months from now. So from next week our monthly payments have jumped 25%......arrears here we come.

I realise that there is little I can do about it but I am astounded at the sheer lack of logic in their calculations here. Paying a mortgage from Jan 2007 yet I am officially living here for 8 years by their administrative methods?

srsly78

Yep is a common issue, read the small print. I got screwed for management fees on an apartment - was charged e500 for the year even tho I moved in on Dec 12th.