Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

For the record, I will read a couple of notes from the Department of Finance and Revenue. The incentive applies to repairs, renovation or improvement works carried out on or after 25 October 2013 and up to 31 December 2015. Payments made between 25 October 2013 and 31 December 2013 will be treated as if they were made in 2014. There are transitional provisions which allow for work to be carried out between 1 January 2016 and 31 March 2016 where planning permission is in place by 31 December 2015. The relief is granted over the two year period following the year in which the work is paid for. However, where the credit cannot be used in these two years owing to insufficient income tax, the relief may be carried forward to the following year and each subsequent year until the relief has been used up. Not only can one aggregate, but if one has insufficient income tax to avail of the credit, one can carry it forward into subsequent years, but the work must be carried out within the designated period I have described.