HRI for homeowners and landlords

Value of the HRI Tax Credit

To qualify for the Home Renovation Incentive (HRI) Tax Credit, you must spend at least €4,405 on each qualifying property. This figure is before Value Added Tax (VAT) of 13.5% is added. The total cost can be from one job or from a number of jobs on the property. It can also be done by one or more qualifying contractors. Any work that you claim for must be done and paid for within the allowed time period of the incentive.

You can claim the HRI Tax Credit up to a maximum of €30,000 of your total cost. This figure is before VAT of 13.5% is added. You may spend more than this on the work to your property. If you do, the amount above €30,000 will not be taken into account.

You may have a single rental property that is converted into multiple rental units. Each of these units is treated separately for HRI. The maximum of €30,000, before VAT is added at 13.5%, applies to each of the individual rental units.

How much is the HRI tax credit?

The amount of HRI credit depends on:

  • the amount you spend on qualifying works
  • any grant, insurance or compensation claim you may receive during the allowed period of the incentive.

If there is no grant, insurance or compensation claim, the lowest tax credit amount for a property is €595 (€4,405 x 13.5%). The highest tax credit amount is €4,050 (€30,000 x 13.5%).

Grant payment

If you receive a grant for qualifying work then the total qualifying expenditure will be reduced by three times the grant amount. For example an insulation grant from the Sustainable Energy Authority of Ireland (SEAI).

Insurance and or Compensation Claims.

Your total qualifying expenditure is reduced by the amount of any insurance or compensation payment you may receive.

Next: Choosing a HRI contractor