Home Renovation Incentive (HRI)

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***The Home Renovation Incentive has been extended to 31st Dec 2018!!!***

The Home Renovation Incentive (HRI) scheme provides for tax relief for Homeowners and Landlords by way of an Income Tax credit at 13.5% of qualifying expenditure on repair, renovation or improvement works carried out on the Homeowner's main home or on rental properties, by qualifying Contractors.

The amount of the HRI tax credit depends on the amount spent on qualifying works. Tax relief can be claimed on qualifying expenditure over €4,405 (before VAT at 13.5%). While there is no upper limit on expenditure on qualifying works, the tax credit will only be given in relation to a maximum of €30,000 (before VAT at 13.5%).

If there are no grants or insurance claims, the lowest tax credit amount is €595 (€4,405 at 13.5%) and the highest tax credit is €4,050 (€30,000 at 13.5%). The HRI scheme can be claimed in conjunction with other cash grant schemes such as the Better Energy Homes scheme but there are some terms. Please contact us for further information.

The HRI scheme was introduced in 2013 and 2015 saw the first tax credits applied to homeowners. In general, the HRI tax credit will be included in tax credits over two years, starting the year after the work is carried out and paid for. It is important to note that the tax credit will only be applicable to works which are subject to the Lower VAT rate of 13.5%. The HRI scheme was extended in 2014 to include rental properties and in 2016 (Budget 2017) was extended to the of 2018.

For example:
If you paid €8,000 (before VAT) to a VAT registered and tax compliant company for the supply and installation of a wood pellet boiler stove, your tax credit is €8,000 x 13.5% = €1,080. This means that you will effectively save €1,080 on this installation.

Comfort Solutions Ireland, being fully registered and compliant, are a qualifying contractor to carry out works under the HRI scheme. Contact us today for more information or for a quotation on works. If you would like further information on the HRI scheme, please visit the Revenue website by clicking here.

 

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Barbara Bradby, Ballycroy

External Insulation, Loft insulation, DPC

Our little house by the sea in Co Mayo was a dream, but the damp was a nightmare. I looked into external insulation first as a solution for the damp which was breaking out on all the internal walls. The walls were concrete, there was condensation... Read more

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Brendan Coyne, Snugboro, Castlebar, Co. Mayo

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Ruth Moore, Claremorris

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Anonymous, newport

I decided to have the insulation of my 2005 built house checked after finding it difficult to keep the rooms warm during the bad winter of 2015/16.   Draughts, cold spots and a boiler that was always on the go meant it was time to do something.

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Michael Harrington, Westport

From the time we contacted Comfort Solutions, we were very pleased with the service we received. Fergus answered our queries professionally and dealt with all our concerns.

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