What is Tax Relief at Source (TRS)?
Since 1 January 2002, tax relief for home mortgage interest (known as TRS) is now given at source. There is no change in the qualifying conditions for tax relief. The tax relief element on the mortgage interest is given, by your lender, either in the form of a reduced mortgage payment or a credit to your funding account. It is not necessary to claim mortgage interest relief in the annual tax return, and it no longer appears on your Notice of Tax Credits.
