Claiming tax credits and reliefs

Did you know that you can claim unclaimed tax credits for up-to the previous 4 tax years. This means that after 31st December 2017 any unclaimed credit for 2013 will be lost.

Some of the most common reliefs available are listed below. Each relief has specific conditions which must be fulfilled.

  • Medical Expenses – paid by you are claimed as a credit at 20%. E.g. doctor & consultant’s fees, physiotherapist. Note that any costs covered by medical insurance are not allowed.
  • Dental Expenses – non-routine dental expenses for you and your family attract relief at 20%.
  • College Fees – relief is available for tuition fees paid for many third level colleges & courses. Relief at 20% on amounts above €3,000/ €1,500 for full-time/part-time courses.
  • Nursing Home Fees – payments on behalf of someone for full-time care are relieved at your highest rate of tax.
  • Joint Assessment – most couples will pay less tax if they are jointly assessed. Under Joint Assessment, the tax credits and standard rate band can be allocated between spouses or civil partners to suit their circumstances
  • Relief for couples in the year of marriage – once you get married or register a civil partnership you should notify Revenue and provide your and your spouse’s/ partner’s PPS No’s. If the tax you pay as two single persons in that year is greater than the tax which would be payable if taxed as a couple in a marriage or civil partnership, a refund of the difference can be claimed.
  • Home Renovation Incentive Scheme – provides a tax credit for property owners (owner-occupiers and landlords) for qualifying expenditure incurred on repair, renovation or improvement work carried out on a property. The credit is worth 13.5% of the value of work completed (before VAT) and the credit is paid over the following two tax years. The maximum credit is €4,050 per property.

The Tax Man can assist to identify the reliefs you’re entitled to claim.

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