You can reclaim the VAT on your Plantation Shutters from Shutters Of Galway with the Home Renovation Incentive (HRI), which has been extended to 31 December 2018.
The HRI scheme provides for a tax credit at 13.5% for homeowners on repair, renovation or improvement work to your home. The addition of Plantation Shutters is classed as a renovation and entitles you to the incentive.
What is it?
The Home Renovation Incentive (HRI) scheme enables homeowners or landlords to claim tax relief on repairs, renovations or improvement work that is carried out on their main home or rental property by tax-compliant contractors and that is subject to 13.5% VAT.
What incentive is available?
The HRI is essentially tax relief paid in the form of a tax credit at 13.5% of qualifying expenditure, which can be set against your income tax over 2 years. This effectively reduces the rate of VAT to zero on qualifying work, up to a value of €30,000.
Who is eligible for the HRI?
You must be compliant with your Local Property Tax obligations and, if applicable, the Household Charge, and pay income tax either in PAYE or self-assessed form.
To qualify for the HRI as an owner-occupier, the work must be carried out on your principal private residence. Landlords can also qualify in respect of work done on their rental properties.
Your Contractor must be registered for VAT in Ireland and must be tax compliant. Shutters Of Galway is VAT registered and are fully tax compliant, thus qualify for this scheme.
Is there a minimum amount I must spend to qualify for the Home Renovation Incentive Scheme?
A minimum spend of €4,405 (excluding VAT) is applicable. You can combine a number of small jobs by different qualifying Contractors to achieve this threshold.
Is there a maximum amount that qualifies for relief?
The tax relief will only apply to the first €30,000 (excluding VAT) spent.
When do I have to carry out the work?
The tax relief applies to work carried out on or after 25 October 2013 up to 31 December 2018.
What type of work qualifies for the Home Renovation Incentive Scheme?
The following are examples of the types of work covered by HRI : Window, Kitchen, Bathroom replacement or renovation, Painting, Decorating, Extensions, Garages, Driveways & Garden landscaping.
What type of work does not qualify?
Carpets, furnishings, white goods, services with a VAT rate of 23% (e.g. architects and engineers), materials that you purchase yourself.
For more information on the HRI and how to apply, please refer to the Revenue website: