News & Events
Revenue has published a new Manual “Income tax implications for landlords with buy-to-let mortgages who have received tracker mortgage redress payments from banks”. The Manual confirms that “any tax liability that impacted customers may incur as a result of the relevant issue or in respect of any redress, compensation or other payment made to impacted customers by the lender, as a result of the relevant issue, are to be discharged by the lender. The lender is to liaise directly with Revenue in this regard.”
Taxpayers affected do not have to file amended returns for the years to 2016 relating to this matter, or take account of such payments in rental computations for their 2017 tax returns.
Please feel free to contact Barry Treacy [email protected] in our Tax Department if you require any assistance on the above.