This is a matter for the Revenue Commissioners who are responsible for the administration of mortgage interest relief through the tax relief at source (TRS) system. I am advised by Revenue, that they have had on-going contacts and discussions at a senior level with Ulster Bank towards expediting the necessary software changes by Ulster Bank to their TRS systems so that the 30% rate is applied for appropriate mortgage account holders. There are approximately 37,000 Ulster Bank accounts impacted by the change.
Revenue is currently awaiting clarification and confirmation from Ulster Bank on a number of issues regarding the scheduling and testing of the software changes, including, in the light of those clarifications and confirmation, the envisaged implementation date. As an interim relieving measure a 25% rate already available in the ICT systems was applied to all eligible accounts from January. The software changes to be implemented will allow for the passing on of the remaining 5% to mortgage account holders and the balance of relief due since 1 January.