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Taxed on cash back

  • 29-10-2020 03:05PM
    #1
    ricko187
    Registered Users, Registered Users 2 Posts: 46 ✭


    Hi,

    I took out a mortgage with Boi last year and availed of the 2% cashback offer. I was taxed about 40% on this and wondering if there is a way to claim this back through revenue at all?

    Many thanks


Comments

  • #2
    Bank of Ireland Reps
    Closed Accounts Posts: 1,293 ✭✭✭Bank of Ireland Reps


    ricko187 wrote: »
    Hi,

    I took out a mortgage with Boi last year and availed of the 2% cashback offer. I was taxed about 40% on this and wondering if there is a way to claim this back through revenue at all?

    Many thanks
    Hi ricko187, 

    Thanks for getting in touch with us here today. We would be happy to check this out with the relevant team for you. Please be assured that we will come back to you here as soon as we have an update on this for you. 

    Thanks Jen


  • #3
    ricko187
    Registered Users, Registered Users 2 Posts: 46 ✭ricko187


    Bank of Ireland Reps wrote: »
    Hi ricko187, 

    Thanks for getting in touch with us here today. We would be happy to check this out with the relevant team for you. Please be assured that we will come back to you here as soon as we have an update on this for you. 

    Thanks Jen

    Many thanks Jen. I appreciate the help


  • #4
    Bank of Ireland: Tara
    Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    ricko187 wrote: »
    Bank of Ireland Reps wrote: »
    Hi ricko187, 

    Thanks for getting in touch with us here today. We would be happy to check this out with the relevant team for you. Please be assured that we will come back to you here as soon as we have an update on this for you. 

    Thanks Jen

    Many thanks Jen. I appreciate the help
    Hi ricko187,

    Sorry for the delay getting back to you on this. We have checked this with our Mortgage Team who advised DIRT does not apply to Mortgage Cashback. Is it possible that it was the Bonus Interest on a Mortgage Saver Account? As this is an interest payment it would be subject to DIRT.

    Thanks
    Tara


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