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HRI Scheme Query

  • 04-07-2017 1:06pm
    #1
    bualadh bos
    Registered Users, Registered Users 2 Posts: 17 ✭


    Hi Guys,

    I have a query regarding the Home Renovation Incentive Scheme.

    Can a person who is self employed claim HRI scheme?

    A friend of mine is self employed, she has converted the garage of her home into an office for her business. The work carried out by her builder cost approx. €30k.

    Can she claim the 30k in her trading expenses and then also claim the HRI in her tax return?

    Or can she only claim the 30k as expenses as it relates to her business?


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    bualadh bos wrote: »
    Hi Guys,

    I have a query regarding the Home Renovation Incentive Scheme.

    Can a person who is self employed claim HRI scheme?

    A friend of mine is self employed, she has converted the garage of her home into an office for her business. The work carried out by her builder cost approx. €30k.

    Can she claim the 30k in her trading expenses and then also claim the HRI in her tax return?

    Or can she only claim the 30k as expenses as it relates to her business?

    Treading into grey areas here i'm sure.

    The HRI is for home improvements though, and not for business expenses, so i doubt it would be claimable under this scheme


  • #3
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    You can never claim it both ways and it is more tax efficient to claim as a business activity.

    It would be worth considering if it is a business activity.


  • #4
    bualadh bos
    Registered Users, Registered Users 2 Posts: 17 ✭bualadh bos


    Thanks guys, it makes more sense to claim the building works as business costs! :-)


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