Mortgage NewsMira Showers are probably one of the biggest selling showers in Ireland.
If you want to get a Mira approved service agent to fix your shower in Ireland or you need to buy Mira parts – you need to contact
Customer Services & Spares :
Modern Plant Ltd (Dublin)
Telephone: 01 4591344
Mon to Fri 9:00am – 5:00pm
E-mail: sales@modernplant.ie
Fax: 01 4592329
Post: Modern Plant Ltd
Otter House
Nass Road
Clondalkin
Dublin 22
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Inheritance Tax in Ireland (Also known as Gift Tax – Capital acquisitions tax CAT)
When somebody close to you dies, tax issues are likely to be the last thing on your mind. However, you are required to make a tax return on any inheritance within a relatively short period of the death,
An inheritance is any assets passed by the deceased to beneficiaries at the time of death. These can include cash in bank accounts, stocks, shares, property, land, livestock, jewellery and cars.
A tax return on your inheritance has to be filed within four months of the ‘valuation date’. The valuation date could vary, but it tends to be either four months from the date of death or four months from the date of probate.In Ireland an inheritance of any sort is taxed at 20 per cent, subject to exemption thresholds and reliefs.
Your tax liability as a result of an inheritance will depend on a number of factors.
The first step is establishing the value of the inheritance and the relationship between you and the deceased person.
Whether you inherit a family residence, a cash lump sum or a selection of shares and bonds, the tax treatment is broadly similar. In the case of all asset classes, the current market value of the asset is the first step in determining its taxable value.
When assessing the value of your inheritance, it is important to note that the taxable value may not be the same as the market value. The taxable value of an asset is the market value of the asset on the valuation date, reduced by any applicable reliefs. Relevant liabilities – costs, expenses and consideration – can also be deducted. For gifts, there is an additional deduction of the small gift exemption.For example, outstanding mortgage costs could be set against the market value of the property, to reduce its taxable value.
The tax payable on your inheritance is also affected by your relationship with the person leaving you the bequest. A threshold applies to all gift or inheritances received, with the amount of the threshold varying, depending on the nature of the relationship between the two parties. You will be exempt from CAT on inheritances up to this threshold.
Spouses are exempt from capital gains tax (CGT), CAT and stamp duty, whether alive or dead, when passing assets to the other spouse.
For the 2010 tax year, the maximum threshold of €414,799 applies where the beneficiary is a child – or, in some cases, a parent – of the deceased.
If you receive an inheritance from another close relative, such as a sibling, aunt, uncle or grandparent, a threshold of €41,481 applies.
The lowest threshold of €20740 euro applies in all other cases. If you inherit money, property or shares from a friend, girlfriend, boyfriend, work colleague or neighbour, you will be exempt from CAT only up to a limit of €26,060.
Falling below the CAT threshold does not necessarily remove the requirement to file a return in relation to your inheritance. If your inheritance was equal to 80 per cent or more of the threshold value, you still have to file a return.
Another important point when dealing with CAT is that the thresholds are cumulative. Prior benefits received by a beneficiary since December 5, 1991 which fall within the same group threshold as the current benefit will be aggregated, to determine whether the threshold has been breached.
Cohabiting couples could only avail of the smallest threshold, currently €20740, under CAT rules. But cohabiting couples might be able to avail of dwelling house relief, whereby a gift or inheritance of a house which has been your main residence may be exempt from CAT, if you do not have an interest in any other house.
In order to qualify for this relief, the person must have occupied the house as their main residence for the three years immediately before the date of the gift or inheritance. A beneficiary who is under 55 must continue to occupy the house as their main residence for the following six years.
A number of other reliefs from CAT are also available, in certain circumstances. If you inherit the family business or family farm, you may also qualify for tax relief provided certain conditions are satisfied.
Business relief and agricultural relief reduces the taxable value of relevant assets by 90 per cent. However, if you sell the assets within a certain period, a clawback of relief may apply.
While stocks, shares and bonds are subject to CAT, certain government securities are exempt. There is an exemption for government securities and unit trusts holding government securities, if neither the beneficiary nor the disponer [deceased] is domiciled or ordinarily resident in Ireland at the date of the inheritance or gift.
There are a number of full exemptions from inheritance tax, irrespective of the value of the inheritance. Bequests to charities and public bodies are exempt from CAT. Also any inheritance of heritage property, such as pictures, prints, works of art or heritage houses and gardens, were exempt from inheritance tax, once certain conditions were met.
Any inheritance of the proceeds of certain insurance policies, where the proceeds are used to pay inheritance tax, and any inheritances left to discharge the medical expenses of a beneficiary, are subject to full exemption also.
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Those nice looking halogen downlighters in your home could be costing you hundreds of euros a year in elecricity. You could reduce your electricity usage by replacing the halogen bulbs with low energy LED bulbs. The most common fitting for those spotlight type recessed downlights are GU10 fittings.
Most halogen Gu10 bulbs are 50 watt bulbs – so a house with 20 of these lights would be using 1000 watts when they are all switched on. If you had these lights on for just 5 hours every day they would add €292.80 a year to your electricity bill each year according to the ESB.*
You can buy replacement 4.4 Watt LED GU10 bulbs that would use just €25 worth of electricity a year. That is a massive saving of 90%. A house with 20 of these halogen 50w Gu10 bulbs could cut their electricity bills by €260 a year by switching to low energy LED bulbs. That is the equivalent (according to ESB) of using a vented tumble dryer 12 times every week (5kg load) all year.
The LED lightbulbs do cost a lot more than the halogen bulbs – but prices should gradually be coming down . After 1 year you will start seeing a payback. These LED bulbs last 10 to 15 times longer than ordinary halogen bulbs – so in the long term you will be even better off. After 2016 Halogen bulbs will not be allowed under EU regulations.
You can buy these LED GU10 bulbs online from Amazon with free delivery to Ireland – they fit straight into existing GU10 sockets and are exactly the same size. They are CE approved too.
* (Calculations as per the ESB online energy usage calculator based on 2009 (October 1st.) rates of 16.00c per Unit (including VAT) )
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The recent extreme cold weather can cause major problems if water pipes in the home freeze. Any exposed pipes, inside or outside your home, may be at risk from freezing and splitting in cold weather.
Preventing frozen pipes
Preventing water leaks
Central heating
* If you are away from home in the winter, set your central heating to come on for a short period each day to prevent freezing. Don’t turn the heating off while you’re away.
Loft insulation
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When you are moving into a new house – or getting one built – one important thing to remember is to sort out the telephone connection.
Eircom is the company in charge of the telephone system in Ireland . You can choose another provider eventually – but you have to go through Eircom for a new landline connection.
A Land line connection is almost essential in many places if you want a good broadband connection speed.
Most landline providers offer bundles where you can get all your calls to other landlines and broadband for a set monthly price.
See this article Comparing Broadband and Phone Prices in Ireland – it compares the prices form providers like Vodafone, Eircom, Smart, UTV, Perlico and Imagine.
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If you own a residential property in Ireland – and it is not your main residence – you are liable for a new charge of €200 Euro a year.
Find out more about this Non Residential Private Property Charge or NPPR. The payment of this charge is due on 30th September 2009 – and you are liable for €200 on each home you owned on 31st July 2009 that was not your main residence.
The month of October 2009 is a period of grace – but after that a penalty of €20 a month per property applies until the charge is paid.
The local authorities are relying on owners to own up and pay up – there is no national property database in Ireland it seems. In the UK there is a unique property reference for every building and apartment – but here in Ireland we have’nt even got a post code system.
The extra funding to be raised is for the use of local authorities – but there is nothing definite it is to be spent on
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Estate Agents can charge as much as 2% commission – so getting one to sell your house could leave you with a bill for four or five thousand euro. The more expensive the house – the bigger the fee (usually).
Do you really need an estate agent to sell a house?
Legally – no. The perception seems to be that you must employ the services of an estate agent to sell a house. Most people do it – and everyone just does the same. Once a buyer has been found – all the important technical legal work is taken care of by solicitors or conveyancers. The estate agent’s job is to find buyers – but in today’s world of online property websites is the old fashioned estate agent really needed?
If you want to reduce a bit of the hassle of selling a house and get someone else to take a few pictures and write some nice things about your house – and pay them at least €3000 euro – then by all means use an estate agent. But it is not beyond most people with a computer , a digital camera and a few hours to put their house up for sale in Ireland. Even when you use an agent – they are still (hopefully) going to be calling you to pass on offers etc and arrange viewings. You could easily do that yourself.
The internet is a powerful tool for house buyers – so being online is vital for anyone trying to sell a house. In larger towns and cities – there will be people looking around for properties for sale – and the usual “For Sale” signs will be another major source of attracting buyers.
There are a few websites in Ireland that cater for “For Sale By Owners”.
The biggest one I could find that deals exclusively with owners selling themselves is SellitYourSelf.ie . For just €195 Euro you can get your property listed online on their site and they also provide quality “For Sale” boards for you to put up outside. The feee of €195 is the only fee you pay – and the listing and photos remain on the site until the house is sold. You can also use their telephone helpline. See more details and register here
Daft.ie is probably the busiest property website in Ireland that allows owners to sell their own house. The majority of houses on the site are put on by estate agents – and there are thousands. For €195 euro you can join them.
Myhome.ie dont seem to take listings from individuals as far as I can see.
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Grants for Roof and Wall Insulation:
The Home Energy Saving (HES) scheme has been launched this year in Ireland to provide assistance to homeowners in improving the energy efficiency of their home in order to reduce energy use and costs and greenhouse gas emissions. It is a national scheme and thus open to all owners of existing houses. The scheme is administered by Sustainable Energy Ireland and its agents.
Homeowners can’t apply for the grants yet – they have to wait until there are sufficient registered contractors available. Contractors are invited to register to be used for the scheme.
The scheme will involve the payment of fixed grants.
How Much are the Grants Available?
Roof insulation €250 Euro
Cavity wall insulation €400 Euro
Internal Dry Liing €2500
External Wall Insulation €2500
High Efficiency Gas or Oil fired Boiler with Heating Controls Upgrade €700
Heating Controls Upgrade €500
and heating controls. There is also a grant for households who choose to get a Building Energy Rating (BER) assessment Before and After the works are completed.
Conditions: Grant Approval must be in place prior to any purchase of materials or commencement of measures undertaken. You may apply several times, however the grant value of your first application must be €500 or more . Note: The BER assessment grant cannot form part of the €500 amount.
* All works must be carried out by a contractor registered with Sustainable Energy Ireland for this particular scheme.
The €100 million scheme will, it is expected, employ 4,000 people and benefit some 50,000 homes in 2009. It is estimates that about oOne million of the houses in Ireland require need some retrofitting to achieve energy savings.
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When you are building a house or moving house – getting the telephone line connected is one of the important things to remember. In Ireland – Eircom is responsible for the telephone infrastructure a
nd connections.
Normally – getting a land line connection may involve Eircom charges from €25 euro up to €121 Euro for a new house where new line work has to be carried out. If the previous owner or tenant asked for the line to be disconnected – there will be a charge to reconnect.
Until January 28th 2009 – Eircom are offering FREE connection for all telephone lines. to take advantage of this offer.
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Building Energy Rating Certificates are now mandatory on existing homes that are put up for sale or rent from today (Jan 1st 2009). Homeowners who are not selling or renting their house do not have to apply for a BER cert. If a house was put on the market before January 1st 2009 – it does not need a BER cert – but soon most buyers will expect to see one – so getting one done will probably help the sale of your house especially if the Energy Rating is a good one ( A, or B) .
SEI has been designated as the Issuing Authority with responsibility for the registration of BER assessors, logging of BER assessments and the overall administration of the BER Scheme. In order to obtain a BER, a homeowner must have an assessment carried out by a certified BER assessor who is trained under the National Framework of Qualifications and registered with SEI. A BER is based on the building’s characteristics, (walls, roofs, floors, windows, doors) as well as levels of insulation, ventilation, lighting, and heating systems, including renewable energy technologies.
Anyone buying or renting a new house or apartment may already be entitled to a BER and should ask the seller/landlord or their agent for it. Along with the BER certificate, they will also receive an Advisory Report which will help identify how to improve the energy performance of the building, reducing the energy costs in the home, and helping them do their bit for the environment.
A BER is valid for up to ten years provided that there is no material change to the dwelling. New homes offered up for sale off plans can be issued with a provisional BER which is valid for a maximum of two years.
Fines of up to €5,000 apply for non-compliance with the regulations.
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Moving house or apartment can be a stressful time with so many things to organise . If you are moving house in Ireland there are several places you need to inform of your change of address.
Re-directing post:
An Post – the Irish Post Office – offers a postal re-direction service, which will ensure that all your post is forwarded to your new address. There is a fee for this service -
Up to 3 months €50.00 ; Up to 6 months €70.00 ; and up to 12 months €100. The charges are more if you are moving outside Ireland.If you use this redirection service - you will still have to inform all your important contacts of your address change.
There is a company in Ireland that will change your address details with a number of relevant service providers and companies. My Address will – for a small fee – notify companies on your behalf – such as Eircom, Sky, Chorus, NTL , O2, Vodafone, Tesco, Quinn, Meteor, BT and others. You just notify My Address of the details and which companies need informing – and they do the rest.
Gas, Electricity and Waste collection
When you move house – Electricity , Gas and Bin Collection accounts will need to be either closed or transferred into the name of the new owners. If you are moving from rented accommodation, your landlord may request that you transfer these services into their name to avoid having to pay reconnection fees. Make sure you take final meter readings for gas and electricity services just before you leave. Contact your local authority or Bin Collection company to let them know you are leaving and make sure you have paid all the waste charges that are owed on the property.
If you are moving into a home that has been previously occupied, ask the previous owners to transfer the utility accounts into your name. Take meter readings for gas and electricity as soon as you take possession of the premises. If utilities need to be connected, contact your electricity service provider (ESB Customer Supply or other) or Bord Gáis in good time to ensure that everything is working by the time you take possession of the premises. Make sure there are no outstanding waste changes on your new home as you may be liable for them.
Telephone Landline
Telephone accounts can be transferred between old and new addresses like electricity and gas accounts. This will save you paying a reconnection fee and means that you’ll have a working phone as soon as you move in. Likewise, if someone is moving into your old home immediately, you can transfer the account into their name. If you use the change of address service at My Address they will inform Eircom , BT , UTV or Magnet of your change of Address.
Television licence
In Ireland, if you have a television you must hold a Television Licence. If you are moving house, you will need to transfer the address on your TV licence. Bring your existing licence to your nearest post office, together with evidence of your new address (a household utility bill or a bank statement will do). Staff in your post office will then amend the details on your record and your licence will be updated and re-issued to you. This service is free.
Cable/digital television
If you subscribe to cable or digital television services, you will need to contact your service provider to either cancel your account or arrange for a service in your new home. You may be able to transfer your account from your previous address, depending on where you are moving. My Address will contact Sky, NTL or Magnet on your behalf if you use their online change of address service. See here for more details.
Electoral register
The Electoral Register is held by your local authority. A new register is compiled each year and you have until 25 November to have your name included or to make any changes (such as a change of address) to your details. If you miss this deadline, you can apply to have your name included in the Supplement to the Electoral Register. To do so, you will need to complete a Change of Address form and return it to your local authority. There is no fee for this service.
Driving licence, car insurance and vehicle registration details
Car Insurance :You must contact your insurance company or broker and let them know your new address so that your insurance policy can be updated.
AA/ RAC - If you are a member of a break-down service, don’t forget to change your address with them also.
Vehicle Registration: Remember to fill in the change of address section on your vehicle registration certificate and return it to the Department of the Environment, Heritage and Local Government. You will find the address on the certificate. They will update your details and send you a new registration certificate. There is no charge for this service.
Driving Licence : You are not obliged to change the address on your driving licence, but it is advisable to do so. My Address will also Contact the DLA about your change of address..
House, health and life insurance
You will need to contact your insurance company to discuss your house insurance as coverage varies from one company to the next. You should also ask if the contents of your house will be covered during the move. Many insurance companies will insure your house contents in transit as long as they will be packed and moved by a professional moving firm. If not, most moving firms provide moving insurance.
Your health insurance company will also require your new address details so information on your policy and renewal can be forwarded to you directly.
Again – My Address contact some of the major insurance companies for you ( Quinn, Friends First BOI, Standard Life, FBD, IIB, Nationwide , PTSB )
Children’s schools
If your children will continue to attend their current school, you just need to make sure that the school has your new address and contact number. If you have enrolled your children in a new school, make sure your child’s school records have been transferred there before they start. Don’t forget to let your children’s current school know when they will be leaving.
Financial institutions
If you are moving to a new area, you may want to move your bank account to a local branch. There is no charge for this service. If you are staying with the same bank branch, make sure they have your new address. You will also need to contact your building society, credit union, credit card company, pension provider, etc.
Revenue Commissioners
You will also need to notify your change of address to the Revenue Commissioners. Make sure you contact the correct tax district; you can get the contact information from any of your tax documents. Always quote your PPS number in correspondence or on the phone.
Employers
Get in touch with the Human Resources (HR) and the payroll departments where you work and give them your new contact details.
Social insurance and social security payments
If you receive any social welfare payments, such as Child Benefit or Jobseeker’s Benefit you will need to contact your local social welfare office to let them know your new address. Failure to do so may result in disruptions to your payments. They will require proof of your new address, such as a utility bill or bank statement.
Health professionals
You will need to notify your change of address to your doctor, dentist, optician and any other health professionals that you deal with. If you are moving to a new area, you can contact your Local Health Office for details of health professionals in your area. Make sure your health records are transferred to your new professionals.
Save time – and use My Address to make sure all the important people in Ireland know your new address.
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Buy new: £8.50 £8.49
30 used & new from £3.40
(Ranking is updated hourly. Visit the Bestsellers in Home & Garden > Buying & Developing Property > Building Your Own Home list for authoritative information on this product's current rank.)
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Heat recovery ventilation is a ventilation system that employs a counter-flow heat exchanger between the inbound and outbound air flow. HRV provide fresh air and improved climate control, while also saving energy by reducing the heating (or cooling) requirements.
The Benefits:
As building efficiency is improving with more insulation and with buildings made more air-tight, – there is less ventilation . Since all buildings require a source of fresh air, the need for HRVs has become more widespread. Openng a window does provide ventilation, – but the building’s heat and humidity will then be lost in the winter and gained in the summer, both of which are undesirable for the indoor climate and for energy efficiency. Heat lost must be replaced by the heating system . HRV technology offers a solution: fresh air, better climate control and energy efficiency.
The Passive House approach is to first reduce the air leakage of the structure to an absolute minimum. This ensures that you don’t have to heat more air than you actually require. Then you run inlet and outlet ducts around the house and you draw in the fresh air via a heat exchanger, which pulls as much heat as possible out of the exhaust air. This is what is known as a Mechanical Ventilation System with Heat Recovery. MVHR.
These air-to-air heat exchangers have been getting more and more efficient over the years and some claim to recapture as much as 90% of the heat from the exhaust air. Also the electric fans that drive them have also been getting more efficient, thus further increasing the CoP (Coefficient of Performance).
Even with a 90% recovery rate, you still need an additional heat source to keep the house warm, but not much. You have reduced the overall heat loss to a minimum. The structure doesn’t transmit much heat, the air leakage is all but eliminated and the supply air is pre-heated by the exhaust air.
Heat Recovery Ventilation Information Here
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Solar water heating
An average household can save about 50% of the annual cost of hot water using solar panel.
There are two main types of solar water heating panels - flat plate and evacuated tubes (referring to the way in which water interacts with the panel). Evacuated tubes are more efficient than flat plate versions, so are often smaller but generate equal amounts of hot water.
Choosing a solar water heating system
When choosing a solar water heating system, you’ll need to consider a number of factors including your average hot water usage, the area of south facing roof, the existing water heating system and your budget.
You’ll need roughly one square meter of collector area per person in the household. Each metre of panel area will need between 30 and 60 litres of water tank volume.
If you use a less efficient collector (like flat plate solar water heating panels), you’ll need to cover a larger area than if you use a more efficient collector (like evacuated tubes). You’ll also need to select system components (like a hot water cylinder, controls and pipe work) and choose the location for your panels considering shade, pipe runs, roof pitch and future access.
Solar water heating can provide about a third of your hot water needs
Pros
* Solar water heating can provide you with about a third of your hot water needs and about £40 a year off your hot water bills, depending on the fuel replaced.
* Solar energy is free, plentiful and clean.
Cons
* Provides hot water but not electricity.
* An unshaded, south-facing location is necessary to install solar panels.
* Initial costs are higher than conventional electric and gas-heater systems.
* Solar panels can be heavy, so your roof must be strong enough to take their weight, especially if the panel is to be installed on top of existing tiles.
* Solar panels are expensive compared to the amount of electricity they’ll produce in their lifetime.
Photovoltaic (PV) solar panels
PV solar panels generate electricity from the sun’s energy rather than just heating your water. You’re more likely to see these on offices or large developments than on homes.
You can use PV systems for a building with a roof or wall that faces within 90 degrees of south, as long as no other buildings or large trees overshadow it. Less energy will be generated if the roof surface is in shadow for parts of the day.
The are three basic types PV panels: monocrystalline, polycrystalline (or multicrystalline) and amorphous. All are made from silicon, but differ in the way the silicon is cut and treated to create collar cells.
To install a system you need to decide how much electricity you want to generate. After submitting details of your property, a PV installer should help you to conduct a site survey and discuss your options with you.
Pros
* Only daylight is needed to create energy – not sunshine.
* Can cut average household electricity bill by about 30%.
* Solar energy is free, plentiful and clean.
Cons
* A large roof area is needed to generate lots of energy.
* Significantly more expensive to buy and install than solar water systems.
* Solar panels are expensive compared to the amount of electricity they’ll produce in their lifetime.
* The efficiency of solar panels depends on the number of solar light hours and climate.
* Initial costs are higher than conventional electric and gas-heater systems.
* An unshaded, south-facing location is needed for installation.
* Solar panels can be heavy, so your roof must be strong enough to take their weight, especially if the panel is to be installed on top of existing tiles.
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