Kieran Coughlan: Help to buy incentive aimed at first timers, to boost new construction

Last year’s budget saw the announcement of a “Help to Buy” scheme. The initiative offers qualifying first-time house buyers the opportunity to obtain a refund of tax payments made in the four years previous.

The maximum refund available under the scheme is capped at the lower of either €20,000, the total income tax and DIRT paid over four years, or 5% of the value of the house to be purchased.