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HTB Issue

  • 24-07-2020 7:07pm
    #1
    Duke of Url
    Closed Accounts Posts: 1,662 ✭✭✭


    My HTB Claim states the following

    Your Help To Buy Claim has been verified by your solicitor or building contractor. Your HTB refund will issue in approximately 5 working days.

    This was for the 5%

    The vender has not received the money yet. I believe claim is due to be completed Next Tuesday.

    Our Draw down from the bank happened this evening and loan funds to be released to our Solicitor on Monday 27th July.

    Today the Financial Provisions (Covid-19) (No. 2) Bill 2020 says the following

    Section 8 amends section 477C of the Taxes Consolidation Act 1997.
    That section provides income tax relief to assist first-time buyers with
    obtaining the deposit required to purchase or build their first home.

    The amendment provides increased relief for the Help to Buy scheme to the
    lesser of (i) €30,000 (up from €20,000) or (ii) 10 per cent (up from 5 per
    cent) of the purchase price of the new home or of the completion value of
    the property in the case of self builds or (iii) the amount of Income Tax
    and DIRT paid over the four years prior to making the application.

    This enhanced relief is only available for the period from 23 July 2020 to 31
    December 2020. From 1 January 2021, the Help to Buy relief reverts back
    to the pre 23 July 2020 position.


    Where do I stand on getting the other 5% from the help to buy?


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