Have you received a redress payment in respect of a tracker mortgage?

Oct 15, 2018

Revenue published a new tax and duty manual dealing with income tax on tracker mortgage redress payments received by landlords with buy-to- let mortgages. If you received a payment, Revenue are saying that any tax liability arising is to be paid by the lender. This means that you do not have to file amended returns for years to 2016, or to take account of such payments in rental computations for 2017 tax returns.

The Central Bank also issued guidance  telling lenders to liaise directly with Revenue.