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Legitimate builders cheaper than rogue traders 10.04.14

A NEW online system has gone live today to streamline a scheme allowing people to get VAT-free renovations up to the value of €30,000 on their homes.
Revenue has announced the launch of the new electronic system to administer the Home Renovation Incentive for tax-compliant contractors and homeowners. Revenue chairman, Josephine Feehily said the scheme would allow legitimate, tax compliant contractors to "actually undercut rogue traders".
The scheme gives an income tax credit equivalent to the 13.5 per cent VAT charged on amounts from €4,405 to €30,000 (excl VAT).
Qualifying expenditure is based on repairs, renovations or improvement works carried out on a homeowner’s principal private residence.
HRI online allows contractors to enter details of qualifying works and payments through the Home Renovation Incentive link on the Revenue On-Line Service (ROS).
By viewing the qualifying works and payments online, the homeowner can see that the contractor is a qualifying contractor and does not need to look for tax clearance certificates or any other proof of tax compliance.
Anyone who has had work carried out and paid for between October 25, 2013 and April 9, 2014 is urged to contact their contractor who has until May 8, 2014 to enter the details to HRI online.
Revenue today said that the scheme has already been used by contractors to record qualifying works and payments.
Revenue stressed that a homeowner won’t be able to claim the HRI tax credit if the details aren’t on HRI online.
Revenue chairman Josephine Feehily said: "The development of an easy to use, online system for this new scheme is a really important innovation. It gives compliant contractors and the legitimate trade a great opportunity to actually undercut rogue traders.
"The homeowner can look up online the work and payment details, and early next year will be able to claim the tax credit online.
"It removes paper from the system, provides homeowners with assurance that the contractor is operating within the tax system, gives tax compliant contractors the opportunity to compete aggressively with rogue operators and reduces the opportunity for fraud and tax evasion." The HRI online link can be found at www.revenue.ie .
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