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TRS (Finance Act 2012) - When was year 1?

mrcheez · 2020-02-09 19:46:39

My mortgage was taken out in October 2012, and my lender says I paid over €1K in interest in 2012. My TRS payments didn't start arriving until March 2013, and the amount received seems to only cover the interest paid in 2013. Is that correct and the interest in 2012 doesn't receive relief @ 25% (i.e. is year 1 considered…

09-02-2020 7:46pm

#1

mrcheez

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My mortgage was taken out in October 2012, and my lender says I paid over €1K in interest in 2012.

My TRS payments didn't start arriving until March 2013, and the amount received seems to only cover the interest paid in 2013.

Is that correct and the interest in 2012 doesn't receive relief @ 25% (i.e. is year 1 considered to be 2013 instead)?

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