Posted on June 25th, 2008 in Restoring a house | 3 Comments »
Advantages of listing a building
- For each restoration undertaken it is possible to apply for a government grant of between 30-50% of the cost including professional fees- usually 30% in actually given.
- 19% of the cost can be written off against tax.
- The State pays up to 6% of the interest of the mortgage related to the cost of buying a restoring listed building.
- Inheritance and purchase tax are lesser than normally the case.
- Rental income is hardly taxed at all.
- Property tax is around ¼ the normal level.