Welcome, Guest  :  Login  |  Help  |  Contact Us

News

The Living City Initiative (LCI) - Tax Incentive Scheme

Published: Thursday, November 09, 2017

The Living City Initiative (LCI) is a tax incentive scheme to assist and encourage people to live in the historic inner city areas of Dublin City.  It was introduced by the Minister of Finance in May 2015 and it applies to designated ‘Special Regeneration Areas’ (SRA’s) in Dublin, Cork, Limerick, Galway, Waterford and Kilkenny.  The exact locations are available to view on the Dublin City Council website through bit.ly/LivingCityInitiativeMap.

The scheme was revised and extended to landlords in January, 2017 to encourage an increase in the take-up of the scheme in respect of rented residential property.  In addition, the restriction on the maximum floor size of the property was removed, along with the requirement that the property must have been previously used as a dwelling.  The minimum amount of expenditure for works was also amended and must now only exceed €5,000.

The scheme allows owners and investors to claim tax relief for money spent on refurbishment and/or conversion of residential property either as income tax relief (for owner-occupied residential) or capital allowance (for rented residential).  It also focuses on the regeneration of retail and commercial districts by allowing owners to claim an accelerated capital allowance on money spent on refurbishment and/or conversion of commercial property.

It aims to incentivise owners/Investors to carry out the necessary refurbishment and/or conversion works to upgrade existing accommodation or bring derelict/disused properties back into use. Examples include bringing vacant upper floors above a shop into residential/office use or carrying out refurbishment work to your own home.

The Living City Initiative unit, in Dublin City Council, has compiled a layperson’s guide to the LCI tax incentive scheme in order to assist owners and investors to access the scheme and encourage the re-use of buildings in the designated SRA in Dublin,   The layperson’s guide is available here

In addition, the LCI unit has set up a ‘One Stop Shop’ Advisory Team from Planning, Architects, Fire prevention, Building Control, Conservation, Valuers & other relevant Departments.  The Team are available to meet with owners/investors to provide advice on statutory planning and development requirements in relation to their proposed refurbishment and/or conversion works before they commence.

It is a FREE service, but must be booked in advance by contacting the Living City Initiative Unit at;

Living City Initiative (LCI) Unit
Dublin City Council,
Planning & Property Development Department,
Block 4, Floor 3,
Civic Office, Wood Quay,
Dublin 8
Email: livingcityinitiative@dublincity.ie
Telephone:   01 222 3480

There are three types of TAX Relief available and the qualifying periods are as follows;

Type of Relief:                               Commencement date:            Cessation date:

Owner-Occupier Residential              5th May 2015                           4th May 2020

Retail/Commercial                              5th May 2015                           4th May 2020

Rented Residential                             1st January 2017                     4th May 2020

Refurbishment and/or conversion work carried out during the above time periods will qualify for relief. 

The LCI application form is available at the following link: www.dublincity.ie

Categories: Architecture


« Back to Latest News