I propose to take Questions Nos. 107 and 108 together.
Section 244 of the Taxes Consolidation Act 1997 provides for tax relief in respect of interest paid on qualifying mortgage loans. The requirement that the relief is paid at source through the relevant lending institutions is contained in Section 244A.
The relief, which is subject to varying rates and ceilings, is only allowable on the actual amount of interest paid within a tax year. In instances where borrowers pay less than the amount of interest due, then the TRS amount is reduced to reflect the actual amount of interest paid. Where no interest payments are made the relief is not allowed.
With regard to the Deputy's Question on audits of TRS, I am advised by Revenue that, while it is not possible to individually review each of the 330,000 accounts currently receiving mortgage interest relief at source, it does carry out ongoing random checks to ensure the relief is correctly calculated and paid.
Revenue also carries out compliance visits on the lending institutions to ensure they are operating the Tax Relief at Source scheme in accordance with the legislation and each individual complaint or query from mortgage holders is fully investigated to ensure the proper amount of relief is being applied.