The home renovation tax incentive (HRI) scheme which will run for the next two years and give a tax credit of 13.5 per cent on money spent on renovations between €5,000 up to a maximum of €30,000. Projects above this value will also benefit from tax relief on first €30,000.
Minister for Finance Michael Noonan said during his budget speech that qualifying work would include work such as window-fitting, plumbing, tiling and plastering.
Anthony said that such an incentive should prove the necessary encouragement to homeowners to "get that job done" but advises that architectural advice, as offered by Help My House nationwide, is invaluable in spending such money wisely. "We have sadly seen too many examples of people starting construction works with a rush of blood to the head only to be left in tears at the end due to the absence of professional advice". He adds "It's nice to see tax compliant builders being supported after years of being undercut by the black market". More information on the scheme is available at http://www.revenue.ie/en/tax/it/reliefs/hri/http://www.revenue.ie/en/tax/it/reliefs/hri/