Dáil Éireann Debate, Wednesday - 8 November 2017
103. Deputy Martin Heydon asked the Minister for Finance if the case of persons (details supplied) in County Kildare who have applied for the help-to-buy scheme can be reviewed; and if he will make a statement on the matter. [47322/17]
Amharc ar fhreagraThe Help-to-Buy (HTB) scheme is available to individuals who sign a contract during the period 19 July 2016 and 31 December 2019.
- S. 477C(3) of the Taxes Consolidation Act 1997 (Help to Buy) requires that an applicant "..entered into a contract with a qualifying contractor for the purchase by that individual of a qualifying residence..." in the "qualifying period".
- S. 477C(1)(a) provides that "'qualifying period' means the period commencing on 19 July 2016 and ending on 31 December 2019;".
I am advised by Revenue that the persons concerned signed their contract on 18 July 2016 and on that basis do not qualify for the scheme. While the persons concerned were advised accordingly by Revenue on 27 October 2017, the HTB is a self-assessment scheme and unfortunately the claim was automatically processed and a tax repayment was transferred to the nominated bank account of the persons concerned on 1 November 2017. I am advised by Revenue that a letter has since issued advising the persons concerned that the repayment of tax received must be refunded to Revenue.
