Purchasers of a new build after 1 January 2017 whom qualify for the Help to Buy Incentive (as introduced by Section 477C Taxes Consolidation Act 1997) will have their tax refund under this scheme paid to a ‘qualifying contractor’ as part of the deposit on the property. Consequently it is essential that developers/contractors wishing to facilitate this scheme for first time buyers must register asa ‘Qualifying Contractor’ under the Help to Buy Process.
The contractor does this by submitting a completed HTB1 Form through MyEnquiries in ROS, as Help to Buy Scheme – Contractor Approval. Contractors should click Add New Enquiry, and select “Help-To-Buy Scheme” and “Contractor Approval” from the dropdown options available under “My Enquiry Relates To” and “And More Specifically”.
Contractors should attach the necessary information and supporting documentation namely:
As part of their application for approval, contractors should confirm their agreement to Revenue publishing their summary details as qualifying contractors.
A list of registered Developers/Contractors is contained on the Revenue website to assist purchasers.