Tax Relief

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Flat Rate Expenses to be abolished from 2020

Do you qualify for Flat Rate Expenses in relation to your profession?

Flat Rate Expenses are employment expenses claimable depending on the profession you are in.

Revenue have undertaken a review of these and despite opposition from many trade unions they will be withdrawn from 1st January 2020. If you qualify for flat rate expenses, you can still claim these for the tax years 2015 – 2019.

Please note the 2015 tax year must be claimed by the 31st December 2019. Ensure you claim this entitlement while it is still available to you.

A list of qualifying professions are available here; https://www.revenue.ie/en/employing-people/employee-expenses/flat-rate-expense-allowances/index.aspx


Why not avail of our ClaimMyTaxBack.ie service for PAYE only?

We can review the last four years for you and calculate if you are entitled to a refund for any of those years.

This review is undertaken on a No Refund/No Fee basis. Therefore, if you are not due a refund, no fee applies.

If a refund is due, our fee is 10% of your refund (minimum of €35) per year.

Should you wish to avail of this service, please request an application form at taxback@claimmytaxback.ie or visit our website www.claimmytaxback.ie


While you’re here…why not read our recent blog, on claiming your tax back for the year 2015 by 31st December 2019 deadline

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Revenue advising taxpayers to claim their entitlements before 31 December Deadline

Revenue has written to over 125,000 PAYE taxpayers

that have not claimed any additional tax credits/reliefs in the previous four years, reminding them to claim their entitlements for the year 2014 before 31st December 2018.

 

As you may be aware, there is a four-year time limit on claiming tax back on for example; medical expenses,

tuition fees and for claiming tax credits/reliefs on, for example, home carer’s credit.

 

If you have a claim for 2014, you need to submit this by 31st December.

Generally, Revenue are issuing refunds within 5 days so there is still time to claim yours before Christmas!

 

Why not avail of our ClaimMyTaxBack.ie service for PAYE only?

We can review the last four years for you and calculate if you are entitled to a refund for any of those years.

This review is undertaken on a No Refund/No Fee basis. Therefore, if you are not due a refund, no fee applies

If a refund is due, our fee is 10% of your refund (minimum of €35) per year.

 

Should you wish to avail of this service, please request an application form at taxback@claimmytaxback.ie or visit our website www.claimmytaxback.ie

 

Should you have any queries on this issue, please contact us on 01 5397999

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Getting tax back on your Pension Lump Sum

As the October 31st tax deadline races towards us, you may want to consider topping up your pension, as this is the deadline for claiming any tax relief this amount for the 2017 tax year.

You can make lump sum payments to your private pension or an AVC (Additional Voluntary Contribution) to your occupational pension.

If you ‘top up’ your pension by 31st October 2018, you are entitled to claim tax relief on that ‘top up’ amount against the tax paid in 2017.

Let us show you an example;

Ann ‘tops up’ her pension €1,000
Ann claims tax relief on €1,000 @ her marginal rate (40%) €400

In the above example, Ann has ‘topped up’ her pension by €1,000 but the real cost to her was €600 as she claimed back €400 tax relief.

Remember

Your pension ‘top-up’ needs to be paid by 31st October and your return completed.

 

Should you have any queries on this issue, please contact us on 01 5397999 or request our application form here

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Tax Relief on Union Subscriptions to be restored?

According to RTE News (21st March 2018), trade unions are seeking for tax relief on union subscriptions to be re-introduced which were abolished in 2011, during the recession.

The country’s largest public service union, Fórsa, argue that the current arrangements discriminate against PAYE workers.

Read this article in full here

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