Help-To-Buy Scheme Data

Dáil Éireann Debate, Tuesday - 28 February 2017

Tuesday, 28 February 2017

Ceisteanna (209, 219)

Joan Burton

Ceist:

209. Deputy Joan Burton asked the Minister for Finance the number of applications for the help-to-buy scheme that have been deemed valid to date; and if he will make a statement on the matter. [9949/17]

Joan Burton

Ceist:

219. Deputy Joan Burton asked the Minister for Finance the number of applications for the help-to-buy scheme that have been deemed valid to date; and if he will make a statement on the matter. [9980/17]

Freagraí scríofa

Minister for Finance

I propose to take Questions Nos. 209 and 219 together.

Individuals wishing to make a claim under the Help to Buy incentive are required to complete a two-stage online process; an application and then a claim. The application stage of the process allows would-be first-time buyers determine whether, and to what extent, they qualify for the incentive. The claim stage allows for the refund to be made.

I am advised by Revenue that the number of Help to Buy applications received up to Friday 24 February 2017 was:

No. of Applications	Successful applications	Pending
3,320	1,105	2,215

This data shows that around one-third of applications are approved automatically and two-thirds have a status of pending. Pending means that the applicants have to file an outstanding return or address a compliance issue; their application must be reviewed by a Revenue caseworker; or the applicant needs to finalise his or her application.

The processing time for pending applications depends on the time it takes an applicant to resolve any outstanding matters and Revenue is encouraging prospective applicants to file any necessary tax returns and address any outstanding issues before making the HTB application. The bulk of applicants to date are PAYE taxpayers and if a Form 12 tax return is outstanding it can be filed online very quickly by using 'PAYE Services' in my Account. If there is a tax liability outstanding it can be paid using the 'Payments' facility in my Account. A HTB application can be approved automatically on the online system where there are no outstanding issues.

Once an application is successful, the time taken for the claim to be submitted depends on the claimant. If he or she has the necessary evidence regarding the purchase of a property then their claim can be submitted without any delay. More detailed information and guidance regarding these requirements is available on the Revenue website.

Of the 1,105 successful applications there have been 407 claims, with 129 verified and paid, and 278 pending verification. Claims are verified by the qualifying contractor for first-time home purchases, or by the solicitor for first-time self-built homes. The processing time for claims to be paid depends on the time taken by the qualifying contractor or solicitor to verify the claim.