Can I claim tax relief on my mortgage ?

Can I claim tax relief on my mortgage?

Loans taken out after 31 December 2012 do not qualify for mortgage interest relief.

Exceptions:

Mortgage interest relief is available for the tax years 2013 to 2017, in respect of;

• interest paid on a loan taken out in 2013 to construct a home on a site, but only where such site was bought by way of a loan taken out in 2012, and
• interest paid on a loan to repair, develop or improve a home but only where loan approval was in place in 2012 and part of the loan was used in 2012 and the balance used in 2013 on such repair, development or improvement.

Before relief will be granted, any necessary planning permission must have been in place on or before 31 December 2012.

Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie