Home renovation incentive scheme – tax relief

Home renovation incentive scheme – tax relief

Home Renovation Incentive applies to repair, renovation or improvement work carried out on your own home or rental property on/or after 15 October 2014 and up to 31 December 2016 by a qualifying contractor or a number of contractors, and on which VAT at 13.5% is charged. Expenditure to which the 23% rate of VAT applies does not qualify for relief.

You can claim relief (by way of an income tax credit) where the total of all the qualifying expenditure incurred on each property over the year is not less than €4,405 excluding VAT (€5,000 including VAT at 13.5%). This tax credit is claimed over 2 years after the year the work was undertaken.

Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie