Home Renovation Incentive (HRI) Scheme
The Home Renovation Incentive (HRI) Scheme provides tax relief for Homeowners and Landlords by way of an Income Tax credit on repair, renovation or improvement works to homes. This tax relief is available until 31 Dec 2018.
The scheme allows for an Income Tax credit at 13.5% of qualifying expenditure on repair, renovation or improvement works carried out on a main home or rental property by qualifying Contractors. That includes your new shutters!
The amount of the HRI tax credit depends on the amount spent on qualifying works. Tax relief can be claimed on qualifying expenditure over €4,405 (before VAT at 13.5%) per property. This €4,405 (before VAT) can be the total from any number of jobs carried out and paid for from 25 October 2013 to 31 December 2018 for Homeowners claiming on their main home and on or after 15 October 2014 and up to 31 December 2018 for Landlords claiming on their rental property. While there is no upper limit on expenditure on qualifying works, the tax credit will only be given in relation to a maximum of €30,000 (before VAT at 13.5%) per property.
All we need is your works number issued to you by Revenue and we’ll look after our end of things.
You can find out more about the Home Renovation Incentive here : http://www.revenue.ie/en/tax/it/reliefs/hri/hri-general-faqs.html#section