This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
OK
Dublin: 12 °C Sunday 5 April, 2020
Advertisement

TD says Revenue is fining homeowners who were approved for Help-to-Buy scheme 'in error'

Michael Moynihan said people are being asked to pay more than €100,000 to Revenue.

Source: TheJournal.ie/YouTube

REVENUE HAS BEEN writing to people who were initially approved for the government’s Help-to-Buy scheme, demanding they pay back the money as well as a fine in some cases of thousands of euro.

Fianna Fáil TD Michael Moynihan raised the issue in the Dáil yesterday, telling Finance Minister Paschal Donohoe that some people had applied for the scheme, but because of the software that was used by the Revenue Commissioner, they were given a commitment “in error” that they qualified for the scheme.

And now that there has been an audit done of the Help-to-Buy scheme, letters have been issued on the 7th and the 8th of March in relation to this and they’re telling them that they’re no longer entitled to it. They’re telling them that they will have to pay a fine, that they’ll have to repay the money, as well as a fine of three or five thousand euros and an interest per day, an interest per day of a percentage of it. Depending on how you calculate it ends up at somewhere over €100,000.

“This is very, very serious,” he told the minister.

“People have contacted me and they are frightened by the document that is coming from the Revenue Commissioners.”

Minister Donohoe said he is due to meet with Revenue soon and he will follow up on the issue.

“I am not aware of the scale of the issue you have referred to,” he said.

In a statement to TheJournal.ie, Revenue explained that the Help-to-Buy incentive (HTB) is a self assessment scheme with online applications and claims processes.

“Validation is built into the process, and further risk-based checks may be carried out after the claim is made, for example where systems checks identify information calling into question the validity of the claim.

“As part of our ongoing work, we review claims to confirm eligibility for the scheme. This means that Revenue may contact taxpayers who availed of the HTB Incentive, for example, calling for documentation to support the claim.”

Revenue said it is standard practice to monitor risk and to recoup monies paid out on the basis of a claim that is subsequently found to be ineligible.

“To date, a small number of claims have been selected for verification in this way. Taxpayer confidentiality provisions prevent us from providing details, given the small number of such cases.”

Read: ‘It’s infuriating’: Tenants frustrated as minister hails ‘slowdown’ in rent rises>

Read: Fears The Liberties will become ‘another Temple Bar’ as latest student accommodation gets planning approval>

  • Share on Facebook
  • Email this article
  •  

Read next:

COMMENTS (36)

This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a commentcancel