tax rebate on home improvements

[salaried]

Hi, Probably a stupid question but somebody told me this is possible. We have payed out somewhere in the region of 15,000 euro to get work done to our house, We have reciepts for all work done and wondered could we offset this in someway tax wise, Any help appreciated though I think the info I was given is pub lawyer/ tax expert talk.

 

[callybags]

You could only claim TRS for interest on money you borrowed for home improvements. (If you are entitled to TRS)

Even then there are strict guidelines as to what constitutes improvements rather than repairs.

 

[Guitarist]

Presuming this is your residence then there's no income tax relief but the costs may be relevant if Captial Gains Tax was levied on the sale of your house (under current legislation this won't apply if it is always your residence but your circumstances or the law may change).

 

[BarMcc]

There was a relief announced in the budget where a tax deduction would be allowed for costs in making home more energy efficient. The maximum deduction allowed is €10,000 for single person and €20,000 for married couple.

The relief will be given by way of a refund in the year following expenditure - e.g. costs incurred in 2011 can be claimed in 2012. Sustainable Energy Authority Ireland were due to provide more details about this scheme and what expenditure qualifies for the relief but don't know if they have published anything yet.