They're calling it the 'Dermot Bannon effect', but it's far more likely to be the 'Revenue effect' which has seen Irish home owners spend €1.737bn through the Home Renovation Initiative since its 2013 launch. They're calling it the 'Dermot Bannon effect', but it's far more likely to be the 'Revenue effect' which has seen Irish home owners spend €1.737bn through the Home Renovation Initiative since its 2013 launch. The most popular works are home extensions (34pc), followed by general repair and renovations (25pc), new windows (10pc) and kitchen replacement (10pc). For works costing between €4,405 and €30,000 (before VAT), the added VAT is refunded to you over two years. This may exclude pensioners, even those who pay USC if their income isn't sufficient to put them in the tax net.

Source: Irish Independent March 31, 2018 01:30 UTC