Up to 70pc of workers are due €800 tax back from Revenue
Published 24/09/2015 | 02:30
Between 65pc and 70pc of PAYE workers are owed an average refund of €800 according to tax rebate company, Red Oak Tax Refunds.
Carlow-based Red Oak is now reclaiming 10,000 Irish people's taxes for them as they do full tax year reviews for PAYE workers on a no refund, no fee basis.Marketing manager at Red Oak, Nerilie Duffey, said that more than 60pc of workers are due a refund.
She explained the difference between doing a standard P21 claim and doing a full tax review.
"Normally what a worker would do is they would go to the tax office and claim a P21 - but that doesn't do a full review of the taxes.
"What we do is take all of the hassle out of dealing with Revenue and if they've got it wrong we sort if out for them. But we also do an independent review of their tax credits. We make sure that they're claiming everything back, and that's where people miss out on refunds in that they don't have the proper tax credits."
Red Oak is looking at expanding into the UK market but the current system doesn't suit them.
"Looking at expanding, at the moment we have to wait, it's not viable until the HM Revenue and Customs (HMRC) update their online systems.
"It's taking too long for us on a paper-based system, but we are working on towards opening up in the UK as well."
Ms Duffey was speaking to the Irish Independent at the National Ploughing Championships where she aimed to improve brand awareness.
The company was set up seven years ago by accountant John O'Connor and now employs 10 people in its Carlow offices.