Dáil Éireann Debate, Tuesday - 10 March 2015
213. Deputy Seán Ó Fearghaíl asked the Minister for Finance if value added tax will be reimbursed as a matter of urgency, arising from the home renovation incentive scheme, in respect of a person (details supplied) in County Kildare. [10336/15]
Amharc ar fhreagraThe Home Renovation Incentive (HRI) provides tax relief for homeowners by way of an income tax credit at 13.5% of qualifying expenditure on repair, renovation or improvement works carried out on a main home by qualifying contractors. The tax credit is based on work subject to 13.5% VAT.
The tax credit is available to individuals who pay income tax either under the PAYE system or under self assessment and is spread evenly over two years. The tax credit is only available against income tax. Full details in respect of the HRI Scheme is available on the Revenue Commissioner's website at www.revenue.ie/en/tax/it/reliefs/hri/hri-general-faqs.html#section2.
I am advised by the Revenue Commissioners that based on the information available to them, the person concerned will not be liable to income tax during 2015. Accordingly, they will not be able to avail of the tax credit under the HRI in 2015. However, subject to having a taxable income, the credit can be carried forward and given as a HRI tax credit next year and the following year.
