Save Money On Home Improvements

Save Money On Home Improvements

A new study commissioned by the Irish League of Credit Unions, Energia and House2Home has revealed something that we all probably knew already - more than half of households are considering home improvements due to more time spent at home.

 

What we probably didn’t know though, was that there are plenty of grants and supports out there to help us make the home improvements we’ve been dreaming about at night.

 

Kollect have been paving the way for the people to make improvements to their gardens, offices, households etc be removing their unwanted waste and junk. To make things even easier, here are some handy supports that are available to people who want to make a positive change to their homestead this summer.

 

The Home Renovation Incentive (HRI)

This one is more about claiming for work that you did in the past, to possibly help with work you want to do in the future. It allows homeowners, landlords and local authority tenants claim tax relief on repairs, renovations or improvement work that was carried out on their main home or rental property. The works must have been completed by a tax-compliant contractor and were subject to 13.5% VAT.

In order to qualify for the HRI, the work must have been done between 25 October 2013 and 31 December 2018 for homeowners; between 15 October 2014 and 31 December 2018 for landlords; and between 1 January 2017 and 31 December 2018 for local authority tenants. The only exception to the closing date is if planning permission was required for the work. If this was the case, planning permission must have been in place before 31 December 2018, and you had until the 31 March 2019 to complete and pay for the work.

The HRI is 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.

 

Grants for solar panels and battery systems

 

If you want to make your home even greener than it is right now the Solar PV Scheme provides a once-off grant towards the purchase and installation of solar photovoltaic (PV) panels and/or a battery energy storage system in homes. The Solar PV Scheme is administered by the Sustainable Energy Authority of Ireland (SEAI) and you must apply for the Solar PV Scheme and have received a grant offer from SEAI before proceeding with any works.

 

Better Energy Warmer Homes Schemes

The Better Energy Warmer Homes Scheme aims to improve the energy efficiency and warmth of homes owned by people on low incomes. It is operated by the Sustainable Energy Authority of Ireland and provides supports to enable Attic insulation, draught-proofing, lagging jackets, low-energy light bulbs, cavity wall insulation or just some plain energy advice. Look up the SEAI’s website for more information.

 

These are just three supports that are available right now but there are many more. The trick is, don’t do the work until you know for sure you’ve received all the supports that are available to you. 

 

When it comes to doing the work, remember that Kollect has a solution to every waste junk and rubbish problem you might have on the road to your perfect home!