Here at Horizon we want to make it as easy as possible for you to understand what this new scheme means to you so below we have listed some frequently asked questions (FAQ’s) regarding this great new Incentive.
What is the Home Renovation Incentive (HRI)?
The Home Renovation Incentive (HRI) provides for a tax credit for Homeowners on repair, renovation or improvement work carried out on the Homeowner’s principal private residence.
When does the incentive begin and how long will it last?
The incentive applies to repair, renovation or improvement work carried out and paid for on or after 25 October 2013 and up to 31 December 2018.
What type of work is covered?
The type of work includes extensions, garages, attic conversions, supply and fitting of kitchens, bathrooms and built in wardrobes, window fitting, plumbing, tiling, rewiring and plastering.
Is there a minimum and maximum amount for the repair, renovation or improvement work?
Qualifying work must cost a minimum of €5,000 (excluding VAT at 13.5%). While there is no upper limit on the cost of work, the tax credit will only be given in relation to a maximum of €30,000 (excluding VAT at 13.5%).
Is there a minimum and maximum tax credit?
The minimum tax credit is €675 (based on qualifying expenditure of €5,000 excluding VAT x 13.5%) and the maximum is €4,050 (based on qualifying expenditure of €30,000 excluding VAT x 13.5%).
Call us Today Dublin Southside 01 848 3744 NorthSide 01 8483815 01 for a free call out and our Experienced Sales team will be happy to talk you through the different options available to you and how to make the most out of this new Incentive with new Windows and Doors from Horizon. When renovating your home, make sure you have the correct home insurance policy.