The renovation bonus allows you to have a deduction for work on the house: here are the mistakes to avoid so as not to lose the benefit.
Renovating your home is an exciting time, but it can also be stressful and complex, especially when you are faced with exorbitant costs. Between notary, mortgage and other legal expenses, the individual finds himself spending several thousand euros. But today there is something new in favor: a new bonus for the house.
But starting today, as we were saying, there is the Renovation bonus. This tax incentive offers a valuable opportunity to save half the expense, but it is essential to avoid some common mistakes that could jeopardize the entire operation. But let’s discover the 5 mistakes to avoid losing this bonus.
House bonus: don’t make these mistakes, you could lose it
Also for the Renovation bonus it is necessary to pay the subsidized expenses via bank transfer with the specific reason “renovation”.
In the bank transfer it is essential to indicate: the reason for the payment, the tax code of the beneficiary of the deduction, the VAT number or the tax code of the person in favor of whom the transfer is made. It is not strictly necessary to enter the invoice number.
It is important to underline that errors in the transfer may result in the loss of the benefit. In the event that the taxpayer uses an ordinary bank transfer rather than a speaking one, or fills out the latter incorrectly, the solution is contemplated in circular no. 43/E of 2016, according to which in this case it is necessary to request a declaration in lieu of affidavit from the company receiving the accreditation. This declaration must confirm that you have received the sums and have regularly accounted for them in your business activity.
Another problem arises when there is the failure to submit invoices relating to building renovation works. If you are unable to submit invoices within the established deadlines, you completely lose the right to the 50% deduction.
Furthermore, it is necessary that all the operations and interventions indicated in the tax deduction request are comply with urban planning and building regulations specifications of the relevant municipality.
In relation to the amount of the works, the Agency recalls that for the construction works started from 28 May 2022, with a total amount exceeding 70 thousand euros, in addition to obtaining the DURC of congruity, the deduction is only possible if in the contract awarding the works it is specified that the company applies the sector’s collective agreements to its employees. The lack of the DURC entails the revocation of the deduction.
Failure to indicate the CCNL contract on invoices can be remedied through a substitute declaration issued by the company confirming the application of the contract. Finally, it is important to remember that starting from 1 January this year, for construction sites with works worth more than 516 thousand euros, it is required SOA certification by businesses for tax deduction purposes.
Furthermore, the communication to the ASL. Remember that the legislation relating to the deduction for renovations requires keeping a copy of the communication to the ASL, but only in cases where safety legislation requires it.
If communication to the ASL is mandatory and this is not sent before the start of the works, the deduction lapses. Unfortunately, once the construction site started, there is no way to fix this errorso it is essential to pay attention to this fulfillment.
