Have you recently Renovated your home?
Have you recently Renovated your home? The Home Renovation Incentive provides tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a homeowner’s only or main residence, This Incentive runs from 25 October 2013 to 31 December 2015 to qualify the expenditure must have been subjected to 13.5% Vat and the work must have cost a minimum of €4,405 excluding vat (€5,000 including vat) This would give a tax credit €595. Before the work commences ensure your contractor is a qualifying contractor and provide the Revenue commissioners with the following information.
- The Local Property Tax reference number of the property on which the qualifying work is to be carried out,
- The name of the claimant,
- The address of the property at which the work will be carried out,
- A description of the work to be carried out,
- The estimated cost of the work to be carried out, and
- The estimated start date and estimated end date.