Would you like to get some home renovations done for Christmas? Perhaps you’ve been thinking of a new fireplace, a new kitchen, knocking two rooms into one or converting an attic into a bedroom for some time. The thing is if you can get them done by December 2016, you can save up to €4000 on the work completed by applying for the Home Renovation Incentive scheme.
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That’s right, the Home Renovation Incentive allows you, as a homeowner or landlord, to claim tax relief on repairs, renovations or improvement work on your main home or rental property. The work must be completed between 25 October 2013 and 31 December 2016 for homeowners and between 15 October 2014 and 31 December 2016 for landlords. The person doing the work must be a tax-compliant contractor and the works must be subject to 13.5% VAT.