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Home Renovation Incentive

2

Comments

  • #32
    BryanF
    Moderators, Home & Garden Moderators Posts: 10,140 Mod ✭✭✭✭BryanF


    Is this scheme over then?


  • #33
    Mc-BigE
    Registered Users Posts: 1,033 ✭✭✭Mc-BigE


    no, its very much in swing.
    all details are here, just make sure your contractor fills out online BEFORE you start work, if he can't or wont, then he shouldn't be charging VAT on his invoice to you at the end.

    all details here:

    http://www.revenue.ie/en/tax/it/reliefs/hri/index.html


  • #34
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    Extended to Rental Properties, where the Landlord is liable for Income Tax.


  • #35
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    Re Home Renovation Incentive Scheme

    “The Home Renovation Incentive (HRI) has been extended to include landlords who are subject to income tax and can apply to repairs, renovations or improvements to rental properties carried out on or after today, 15th October 2014.

    The conditions as regards lower and upper limits and the granting of the tax credit remain unchanged from those applying to HRI for homeowners.

    Full details on the operation of HRI for landlords will be included in the Finance Bill, to be published on 23 October 2014, and will be available on www.revenue.ie within the next week to 10 days.”


  • #36
    my user name
    Registered Users Posts: 58 ✭✭my user name


    I just got some work done - does the contractor have to get this work registered with HRI before end of year? or will it be ok if done in January


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  • #37
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    my user name wrote: »
    I just got some work done - does the contractor have to get this work registered with HRI before end of year? or will it be ok if done in January

    The refund is through your Tax Credits, in the following 2 years, so if it's registered by 31st Dec, you will get 50% in 2015 and 50% in 2016.

    Leaving it until Jan will push the whole refund back by a full year.


  • #38
    veliktom
    Registered Users Posts: 34 ✭veliktom


    I got some work done in Oct last year but neither myself nor the contractor were overly familiar with this scheme so the job never got logged on the revenue site. If the contractor goes in and logs the job now will I still be able to claim tax credits, and will they start this year or next year? Any help would be much appreciated.


  • #39
    kennyb3
    Registered Users Posts: 6,724 ✭✭✭kennyb3


    Made my claim this morning, after all work input previously.

    Be interesting to see now how long it takes to get added to tax credits.


  • #40
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    kennyb3 wrote: »
    Made my claim this morning, after all work input previously.

    Made a claim, where, how ??

    The way it should work is that you give your Property Tax Ref No to the Contractor, and that is linked to your Tax details.
    Be interesting to see now how long it takes to get added to tax credits.

    In the two years following the work, 50% each year.


  • #41
    kennyb3
    Registered Users Posts: 6,724 ✭✭✭kennyb3


    martinn123 wrote: »
    Made a claim, where, how ??

    The way it should work is that you give your Property Tax Ref No to the Contractor, and that is linked to your Tax details.


    In the two years following the work, 50% each year.

    Herehttps://www.ros.ie/hri-web/login.html;rjsessionid=D357647B9759D3593ADF3D7A51527DC1?execution=e1s1. Contractor(s) have put up contracts & and payments.

    However you actually have to go in and process the claim yourself. (only available from today 13/01/15 - had rang them last week as wasn't working)

    And yes aware its 50% over in 2015 & 2016. (work in tax)


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  • #42
    bstens
    Registered Users Posts: 18 ✭bstens


    Hi,
    can anyone tell me is it possible for my contractor to enter the details I paid him in Oct/September last year. He only logged my job in the last week or 2 on the HRI online site. I have only discovered to my own ignorance of the scheme that all the payments should have been added as they were being processed. I wrongly assumed that the claim was all dealt with after the work was done.

    So I wish to get my contractor to enter the full amount I paid him now and claim on this? I am hoping I have not missed the boat on this!

    Thanks,


  • #43
    TutuKaka
    Registered Users Posts: 93 ✭✭TutuKaka


    Would the replacing of storage heaters in an apartment qualify for the scheme?


  • #44
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    bstens wrote: »
    Hi,
    can anyone tell me is it possible for my contractor to enter the details I paid him in Oct/September last year. He only logged my job in the last week or 2 on the HRI online site. I have only discovered to my own ignorance of the scheme that all the payments should have been added as they were being processed. I wrongly assumed that the claim was all dealt with after the work was done.

    So I wish to get my contractor to enter the full amount I paid him now and claim on this? I am hoping I have not missed the boat on this!

    Thanks,

    Use the link provided by kennyb3 above, to see if the details have been entered by the contractor, if yes process your claim.


  • #45
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    TutuKaka wrote: »
    Would the replacing of storage heaters in an apartment qualify for the scheme?

    Don't think so, probably classified as White Goods, so excluded


  • #46
    bstens
    Registered Users Posts: 18 ✭bstens


    martinn123 wrote: »
    Use the link provided by kennyb3 above, to see if the details have been entered by the contractor, if yes process your claim.

    There are no amounts entered yet, that's my problem. Is it to late for my contractor to enter payments from October?


  • #47
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    bstens wrote: »
    Hi,
    can anyone tell me is it possible for my contractor to enter the details I paid him in Oct/September last year. He only logged my job in the last week or 2 on the HRI online site. I have only discovered to my own ignorance of the scheme that all the payments should have been added as they were being processed. I wrongly assumed that the claim was all dealt with after the work was done.

    So I wish to get my contractor to enter the full amount I paid him now and claim on this? I am hoping I have not missed the boat on this!

    Thanks,
    bstens wrote:
    There are no amounts entered yet, that's my problem. Is it to late for my contractor to enter payments from October

    Looks like your Contractor has not lodged the details at all, no reason that I can see why he cannot enter October as the payment dates, but get him on to it asap.


  • #48
    Ghost Buster
    Banned (with Prison Access) Posts: 5,172 ✭✭✭Ghost Buster


    This may well be a dumb question and I will be the first to admit that i am all but innumerate!!! (and my wife is really making these kinda decisions!)
    But is it worth combining the SEAI and HRI or just do one of em...and which one?
    Losing SEAI grant x 3 from the 13.5% tax relief.
    Whadda ya think is the best. One, other or combined?


  • #49
    micks_address
    Registered Users Posts: 8,428 ✭✭✭micks_address


    Hi Guys,

    I just submitted a claim for this online - work was done last January (new kitchen) I phoned the company yesterday and gave them my property ID and they input the details on the HRi system.

    When I checked this morning they were there and I was able to put the claim through.

    It says it a tax credit will be applied evenly over the next two years. Is it like a medical tax relief where revenue will actually lodge money in my bank account or is it a case that i will just end up paying less tax?

    Also re the deadline mentioned earlier in the thread - is that applicable? The website didnt seem to mind me putting through a claim for last years work even though the company only added it to the site yesterday

    Cheers,
    Mick


  • #50
    spankmemunkey
    Registered Users Posts: 2,015 ✭✭✭spankmemunkey


    Ive recently had new wooden floors fitted in my home and also under stair storage from the same company, does anybody know if I qualify for that tax refund thing? cost me 2500 in total


  • #51
    BryanF
    Moderators, Home & Garden Moderators Posts: 10,140 Mod ✭✭✭✭BryanF


    threads merged


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  • #52
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    spankmemunkey wrote: »
    Ive recently had new wooden floors fitted in my home and also under stair storage from the same company, does anybody know if I qualify for that tax refund thing? cost me 2500 in total

    Minimum spend is 4405.00 Plus VAT to qualify. Does not all to be with the same Co, any other works which might add to the total spend?


  • #53
    Jovetic
    Registered Users Posts: 202 ✭✭Jovetic


    Is this scheme running till the end of this year?


  • #54
    kennyb3
    Registered Users Posts: 6,724 ✭✭✭kennyb3


    Yes


  • #55
    Calahonda52
    Registered Users Posts: 12,163 ✭✭✭✭Calahonda52


    kennyb3 wrote: »
    Yes
    http://www.revenue.ie/revsearch/search?q=home+improvements&btnSearch=Find

    “I can’t pay my staff or mortgage with instagram likes”.



  • #56
    alley2020
    Registered Users Posts: 29 ✭alley2020


    Hi guys, will the HRI qualify for a new build?


  • #57
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    alley2020 wrote: »
    Hi guys, will the HRI qualify for a new build?

    No Renovations only.


  • #58
    Calahonda52
    Registered Users Posts: 12,163 ✭✭✭✭Calahonda52


    alley2020 wrote: »
    Hi guys, will the HRI qualify for a new build?

    I don't think so, even if it did

    The works must cost a minimum of €4,405 (before VAT) per property, which will attract a credit of €595 per property. Where the cost of the works exceeds €30,000 (before VAT) per property, a maximum credit of €4,050 per property will apply.

    Assuming all the other criteria apply

    “I can’t pay my staff or mortgage with instagram likes”.



  • #59
    RandomAccess
    Registered Users Posts: 1,830 ✭✭✭RandomAccess


    Have there been any rumblings about this scheme being extended?

    The date by which works must be completed is the 31st of December 2016

    It was originally supposed to expire in 2015 but was extended by a year.
    Given that so much of the available housing stock is executor sales & ex-rental this scheme remains highly relevant.

    - Mailed the relevant ministerial office, so hopefully I will see some response.


  • #60
    martinn123
    Registered Users Posts: 2,300 ✭✭✭martinn123


    RandomAccess wrote: »
    Have there been any rumblings about this scheme being extended?

    The date by which works must be completed is the 31st of December 2016

    It was originally supposed to expire in 2015 but was extended by a year.
    Given that so much of the available housing stock is executor sales & ex-rental this scheme remains highly relevant.

    - Mailed the relevant ministerial office, so hopefully I will see some response.

    Talk to your TD, I suppose the more people who request the initiative be extended, the better chance , come Budget time.


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  • #61
    Rossdarragh1
    Registered Users Posts: 93 ✭✭Rossdarragh1


    I am carrying out works to my home of over 55k. I'm looking to do this through the HRI scheme. However I have two ID numbers for the same property. One in my own name and one in my partners. Does it matter whos ID number I use? Could just use both :)


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