Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Tax relief

  • 10-08-2017 6:58am
    #1
    gavincfc1990
    Registered Users, Registered Users 2 Posts: 14 ✭


    Hi.iv purchased a house 8 months ago and have a mortgage on the property.i have a decent job and pay alot of tax.im just wondering is there anything I can apply for with the revenue to get tax relief or more tax credits to pay less tax on what I earn.all replys would be great thanks


Comments

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


    gavincfc1990 wrote: »
    Hi.iv purchased a house 8 months ago and have a mortgage on the property.i have a decent job and pay alot of tax.im just wondering is there anything I can apply for with the revenue to get tax relief or more tax credits to pay less tax on what I earn.all replys would be great thanks

    There's no tax relief on Mortgages any more.

    In relation to tax credits, it's an impossible question to answer. All of the tax credits available are based on your personal circumstances.

    Have a look at the following link. There might be something in there you should get that you aren't already.

    http://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/index.aspx


  • #3
    tanit
    Registered Users, Registered Users 2 Posts: 325 ✭✭tanit


    gavincfc1990 wrote: »
    Hi.iv purchased a house 8 months ago and have a mortgage on the property.i have a decent job and pay alot of tax.im just wondering is there anything I can apply for with the revenue to get tax relief or more tax credits to pay less tax on what I earn.all replys would be great thanks

    As Gerrybadd has said there is no relief on mortgages any more. That said you have the Home Renovation Scheme

    HRI for homeowners and landlords
    Home Renovation Incentive
    The Home Renovation Incentive (HRI) scheme enables homeowners or landlords to claim tax relief on repairs, renovations or improvement work that is carried out on their main home or rental property by tax-compliant contractors and that is subject to 13.5% VAT. With effect from 1 January 2017, HRI has been extended to local authority tenants who have written consent from the local authority to carry out the works.

    The HRI is paid in the form of a tax credit at 13.5% of qualifying expenditure, which can be set against your income tax over 2 years. This effectively reduces the rate of VAT to zero on qualifying work, up to a value of €30,000.

    In order to qualify for the HRI, the work must be done between 25 October 2013 and 31 December 2018 for homeowners; between 15 October 2014 and 31 December 2018 for landlords; and between 1 January 2017 and 31 December 2018 for local authority tenants.

    This is interesting for anyone buying a house that needs work or any landlords that need to do work in their properties to comply with regulations.

    Check it out and see if it's something that interests you. If you have an accountant they will definitely can give you better info and help on how to do it

    There is also a thread here Home Renovation Incentive it's been quiet for a while but take a look at it.


Advertisement