Written answers
Thursday, 18 October 2007
Department of Finance
Tax Code
5:00 pm
Paul Kehoe (Wexford, Fine Gael)
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Question 114: To ask the Tánaiste and Minister for Finance the status of the claim for mortgage interest relief for persons (details supplied) in County Wexford; when it will be processed; and if he will make a statement on the matter. [24589/07]
Brian Cowen (Laois-Offaly, Fianna Fail)
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I am advised by the Revenue Commissioners that an application for mortgage interest relief for the current year was received from the persons in question on 4 September 2007. An application for interest relief for prior years was also received on the same date.
It is expected that the persons will receive mortgage interest relief for the current year from 1 November. The mortgage provider in this instance operates a gross payment policy, meaning that the persons will pay the full monthly mortgage amount and the mortgage provider will credit their funding account with the monthly tax credit. Mortgage relief for the earlier months of this year will be the subject of a lump sum credit to the funding account.
With regard to the interest relief for prior years, this will be refunded during November — the mortgage provider will refund for the year 2006 and Revenue will refund for the years 2003-2005 inclusive.
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