Home Renovation Incentive

sillysocks

I can't find the answer to this on other threads so hoping someone can help.

May be getting an extension on my house in the next couple of months, currently pricing it all up. We're thinking it will probably be around 30k.

I've been reading online about the home renovation incentive from the govt and have a few questions on it.
The builder we are hoping to use is pretty much a project manager who gets in all his recommended trades people. So I am right in thinking each one of these would have to be approved for the scheme?

Also, when working out the cost of the extension can we include materials used? I know there's a few things like white goods, flooring listed as excluded, but would all other materials used be included? From what I can tell the project manager will set up an account in our name in the local builders provider and we then pay them directly for any materials bought by the contractors, and I'm wondering if that can be included in the amount up to 30k or is it only the actual contractors fees?

It looks like it might be a bit of a pain for the contractors using the online system to register payments etc, but if we're going to benefit by 4k tax credit it'd be worth pushing them! As far as I know they're all 'above board'.

DOCARCH

Have a read of this...http://www.revenue.ie/en/tax/it/reli...tive-guide.pdf

Edit: I cannot make link work. Just Google 'HRI Guide'

martinn123

sillysocks wrote: »

I can't find the answer to this on other threads so hoping someone can help.

May be getting an extension on my house in the next couple of months, currently pricing it all up. We're thinking it will probably be around 30k.

I've been reading online about the home renovation incentive from the govt and have a few questions on it.
The builder we are hoping to use is pretty much a project manager who gets in all his recommended trades people. So I am right in thinking each one of these would have to be approved for the scheme?

Also, when working out the cost of the extension can we include materials used? I know there's a few things like white goods, flooring listed as excluded, but would all other materials used be included? From what I can tell the project manager will set up an account in our name in the local builders provider and we then pay them directly for any materials bought by the contractors, and I'm wondering if that can be included in the amount up to 30k or is it only the actual contractors fees?

It looks like it might be a bit of a pain for the contractors using the online system to register payments etc, but if we're going to benefit by 4k tax credit it'd be worth pushing them! As far as I know they're all 'above board'.

From what you describe, it will not qualify under this scheme.

You need to appoint a builder, who will supply all the materials, and labour, and charge you 13.5% VAT, this is the amount of the Tax Refund.
If you buy materials yourself you will be paying 23% VAT.
Also the Fee your Project Manager will charge, will not qualify either, or any Architect Fees.

You can appoint multiple Tradesmen, as long as they are all Tax Compliant, and supply materials and labour, and charge 13.5%.