Thursday 23 November 2017

Hundreds of euro up for grabs in tax refunds


Charlie Weston Personal Finance Editor

HOUSEHOLDERS have just weeks left to claim tax refunds for money spent on medical expenses and health insurance in the last four years.

Finance experts said that someone who spent €1,000 on medical bills in 2009, but did not make a claim, is due €200 back.

Taxpayers can go back four years to claim refunds. This means that the end of the year is the deadline to claim any refunds due from 2009.

Accountant Cathal Maxwell of said claims would have to be made before the end of the year.

"The most common missed tax claims relate to medical expenses, home carer tax credit and employee flat-rate allowance and the personal tax credit claim where employers pay your medical insurance," Mr Maxwell said.

"These claims could be worth hundreds of euros."

He explained that, for 2009, the home carers tax credit was worth €900.

The Revenue will give taxpayers back 20pc of all qualifying medical expenses incurred by the worker and his or her family in 2009.

"If you had medical bills of €1,000, you are due a refund of €200," Mr Maxwell said.

And for those lucky enough to have their health insurance paid by their employer, they could be missing out on a tax refund.

"If your employer pays your medical insurance and you pay a benefit-in-kind tax on it, you are due a personal tax credit of 20pc on the gross premium," he said.

The tax expert gave an example of a person who has a gross health insurance policy of €3,000 for a family paid by the employer. This person will have to pay benefit-in-kind tax (the same as income tax) on the €3,000, but they are due a personal tax credit of €600 back from the Revenue.


People who are members of a trade union, and who have not claimed tax relief for this, may be due a refund. This tax credit was abolished from 2011 onwards. But you can claim €40 for 2009 and the same for 2010.

The tax relief for home service charges/refuse collection charges was abolished for tax year 2012 onwards. But you can claim tax relief from 2009 up to 2011 based on the amount paid in the previous year, according to Paylesstaxie.

Relief is given for service charges paid in full and on time in the previous calendar year. The amount of the tax relief is 20pc of the amount paid.

And there is tax relief at 20pc for premiums paid for dental insurance. The relief applies if the premium is paid for dental insurance to an authorised insurer for non-routine dental treatment where the policy is for dental insurance only, Mr Maxwell said.

Irish Independent

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