Monday 26 February 2018

Case Study: 'Every cent counts as the old saying goes - it's better in my pocket than theirs'

Laura Haugh with her son James (5).
Laura Haugh with her son James (5).

Busy working mother Laura Haugh claims back tax on her medical expenses every year as she believes "every cent counts".

She uses the PAYE system online to make her claims and describes it as an "easier and efficient" process.

Laura, 'mum-in-residence' and founder of parenting website, has two children, six-year-old James (pictured) and Lucy (3).

"I claim back my medical expenses religiously every year, although when I started I could claim back relief on these expenses at the higher rate of tax. The standard rate is less than half of this so it's not as beneficial as it used to be but every cent counts as the old saying goes - it's better in my pocket than theirs," Laura said.

"I was lucky enough to benefit from mortgage interest relief on my first home. Now that I am in our second family home, I am grateful that I can claim back tax on expenses incurred doing it up on the Home Renovation Scheme.

"My son was seriously ill a couple of years ago and received wonderful care in Temple Street and Crumlin Children's hospitals, so every year we make a charitable donation and allow the hospitals to benefit from the donation and the tax relief I would have received on it by providing my PPS number to them."

Savvy Laura believes that more education needs to be delivered to people about their tax relief and grant entitlements.

But, she added: "The difficult times of the recession has helped us to be more savvy financially and be more proactive in making our annual tax returns".

Emma Jane Hade

Irish Independent

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