2017-21 help to buy scheme - megathread. All help to buy discussion here please

"Did you buy a home or draw down the 1st tranche of a qualifying loan between 19th July and 31st December 2016?"

For the above, if you signed a contract for a purchase in early august, but the build hasn't completed and you haven't closed on the purchase. Does this count as between July and December?

Shedite27

Pedro32561 wrote: »

This was evidently misinformation. The form is available now!

Bit harsh calling it misinformation. Just good efficiency to have it out earlier.

Pedro32561

Pedro32561 wrote: »

Gave Revenue a call. They said the application form will go live on myaccount some time this afternoon.

This was evidently misinformation. The form is available now!

Pedro32561

Gave Revenue a call. They said the application form will go live on myaccount some time this afternoon.

crogerso

As far as I can see Revenue don't re-open until 9.30am so probably have to wait till then I reckon

Well that doesn't make sense, as if you were applying for a house bought in 2016, you would be claiming the tax back for 2012 - 2015 and presumably most would have that already sorted for the years they are interested in.

Also no update on the Revenue site with regards their instructions on how to apply.

Baby01032012 wrote: »

The option is the Form12 paye tax return, you'll need to complete this fully for the previous 4 years. Not sure 2016 is up there yet as today is first day really that you can make a return for 2016

When does it show up? It shows up when you're filling out the 4th year? Or it shows up only after you have filled out the fourth year on the main page with the titles?

Baby01032012

cronos wrote: »

Anyone tried to apply yet?

I don't see an option for it on the Revenue My Account main screen with the tiles? Do you guys see an option there for it?

The option is the Form12 paye tax return, you'll need to complete this fully for the previous 4 years. Not sure 2016 is up there yet as today is first day really that you can make a return for 2016

Anyone tried to apply yet?

I don't see an option for it on the Revenue My Account main screen with the tiles? Do you guys see an option there for it?

Alter_Ego

Eireann81 wrote: »

From revenue.ie:
if you are a PAYE taxpayer, you will need to complete Forms 12 (if you have not already done so) for the tax years you select for refund.

Slightly longer version here:

" The HTB incentive involves a refund of income tax and DIRT paid over the previous four tax years. However, it will be open to HTB claimants to select all or any of the previous four tax years for the purposes of calculating the HTB refund.

PAYE taxpayers need to submit a Form 12 (where they have not already done so) for each of the tax years they select"

Eireann81

CramCycle wrote: »

I thought they had stated that you must be tax compliant for the four years (even if all your tax is coming from one year), hence you had to get 4 of the P12 forms as this was their standard, even though for most of us this is no different than the info on our P21s.

From revenue.ie:
if you are a PAYE taxpayer, you will need to complete Forms 12 (if you have not already done so) for the tax years you select for refund.

tomfoolery60

CramCycle wrote: »

I thought they had stated that you must be tax compliant for the four years (even if all your tax is coming from one year), hence you had to get 4 of the P12 forms as this was their standard, even though for most of us this is no different than the info on our P21s.

This was my understanding as well, it would make sense for you to have to declare your compliance and incomes (so they can hang you afterwards if you are lying!)

Alter_Ego wrote: »

You are free to choose any or all of the last 4 years for the tax return. For example, if you paid 20,000 tax in 2015 and looking for 18,000 refund, you just need to complete tax return for 2015.

I thought they had stated that you must be tax compliant for the four years (even if all your tax is coming from one year), hence you had to get 4 of the P12 forms as this was their standard, even though for most of us this is no different than the info on our P21s.

Alter_Ego

cronos wrote: »

On that topic. I signed a contract on August 2nd 2016, but house won't be finished + snagging till February 2017. So do I use 2013 - 2016 or august 2012 to august 2016?

You are free to choose any or all of the last 4 years for the tax return. For example, if you paid 20,000 tax in 2015 and looking for 18,000 refund, you just need to complete tax return for 2015.

Collyb101 wrote: »

Yes, of course. No need for 2012. I actually had to get 2015 for my mortgage application and I was given an unexpected €1200 back. Nice wee surprise. I'll do the rest together as I cannot be arsed doing it twice.
I haven't been keeping up to date with this thread/the details of how things will work BUT i have paid my 10% deposit on my house to be already to secure the contract. Does anyone know, at this point, how the reimbursement might work? Probably been discussed a dozen times, sorry.

On that topic. I signed a contract on August 2nd 2016, but house won't be finished + snagging till February 2017. So do I use 2013 - 2016 or august 2012 to august 2016?

Collyb101

Yes, of course. No need for 2012. I actually had to get 2015 for my mortgage application and I was given an unexpected €1200 back. Nice wee surprise. I'll do the rest together as I cannot be arsed doing it twice.
I haven't been keeping up to date with this thread/the details of how things will work BUT i have paid my 10% deposit on my house to be already to secure the contract. Does anyone know, at this point, how the reimbursement might work? Probably been discussed a dozen times, sorry.

Collyb101 wrote: »

I plan to get on Revenue [my account] pronto in January to organise my p21 forms for 2012-2016. Hopefully work from there.

You only need 4 years so if you're using 2016 then you wouldn't need 2012 and 2012 is a pain in the arse as you have to do it on paper and scan it in. The rest can be done online. Actually you can already do years 2013, 2014 and 2015 online right now. 2016 you can do in January. 2012 as I said you can do now but on paper then scan it in.

I got about 150 euro returned myself from the balancing statements which was nice.

If anyone has the paper version of the 2012 form handy that would be great. I can't find it on the revenue site. Probably missing something obvious lol

Collyb101

I plan to get on Revenue [my account] pronto in January to organise my p21 forms for 2012-2016. Hopefully work from there.

Has anyone a checklist of things they are planning to get sorted before 3rd of January? Luckily I've managed to secure an exactly 70% mortgage. 266k loan on a 380k house value. Hoping I've covered everything off.

TheUnderfaker wrote: »

Interesting, I never knew that was happening. Hopefully we get the best of both worlds or else I ain't gettin no rebate!

See it here but it doesn't say about the year to claim thing, it is in the second section, what you need to do to apply:
http://www.revenue.ie/en/tax/it/reliefs/htb/index.html

CramCycle wrote: »

hubbub might be a bit strong. Revenue are currently taking Form 12s on their website for the year 2012, specifically for the purpose of the help to buy scheme. i think someone here even had a link earlier. Instead of just rolling back the current system from 2013 to 2012, you had to print out the Form 12 for 2012, fill it out, scan it and submit it online (only for this scheme). They will then use this for those who bought in 2016 apparently.

Hence why I ask will it be the best of the two options?

Interesting, I never knew that was happening. Hopefully we get the best of both worlds or else I ain't gettin no rebate!

TheUnderfaker wrote: »

I must have missed that hubbub... What happened there if you don't mind me asking?

hubbub might be a bit strong. Revenue are currently taking Form 12s on their website for the year 2012, specifically for the purpose of the help to buy scheme. i think someone here even had a link earlier. Instead of just rolling back the current system from 2013 to 2012, you had to print out the Form 12 for 2012, fill it out, scan it and submit it online (only for this scheme). They will then use this for those who bought in 2016 apparently.

Hence why I ask will it be the best of the two options?

CramCycle wrote: »

Thanks for that. I do wonder then the hubbub about getting the 2012 (which had to be scanned and submitted online to a different are of myaccount) stuff in. Is it a case of, which ever one suits you best?

I must have missed that hubbub... What happened there if you don't mind me asking?

ams

I just printed out the 2012 returns yesterday.

Given that I won't receive my 2016 P60 until February at the earliest it will suit me better to claim from 2012 -2015.

TheUnderfaker wrote: »

I have submitted a query to "my enquiries" on revenue.ie and am waiting on a response to that. Just called up in the meantime to ask the question.

I'd be inclined to believe the guy I was talking to. The online system works for the last 4 tax years so when it comes to submitting applications in 2017 the only years available will be 2013, 2014, 2015 and 2016.

I will update here when I get the written response anyway.

Thanks for that. I do wonder then the hubbub about getting the 2012 (which had to be scanned and submitted online to a different are of myaccount) stuff in. Is it a case of, which ever one suits you best?

CramCycle wrote: »

It is never their word, it is their "opinion", and you should try and get it in writing (not in this matter but in general). Opinions like they say, are like ********s, everyone's got one. Just like real life though, revenue are entitled to change their opinion.

I have submitted a query to "my enquiries" on revenue.ie and am waiting on a response to that. Just called up in the meantime to ask the question.

I'd be inclined to believe the guy I was talking to. The online system works for the last 4 tax years so when it comes to submitting applications in 2017 the only years available will be 2013, 2014, 2015 and 2016.

I will update here when I get the written response anyway.

TheUnderfaker wrote: »

That's the word I got from revenue, yes. Can we take their word is a completely different question ðŸ˜‰

It is never their word, it is their "opinion", and you should try and get it in writing (not in this matter but in general). Opinions like they say, are like ********s, everyone's got one. Just like real life though, revenue are entitled to change their opinion.

stickman22 wrote: »

Great, so this current year (2016) is taken into account?

That's the word I got from revenue, yes. Can we take their word is a completely different question

stickman22

Great, so this current year (2016) is taken into account?