[Irishboard]

Hi, would appreciate any help on this.

What if a person's all eligible tax credits exceed the amount of tax he/she is liable to pay?

For example, PAYE, Personal TC, Rent TC, Medical Insurance Relief, Home Care's TC. If I add all above and divide by 12 as I get paid monthly, this amount exceeds my tax I am liable to pay.

How does it work if this is the case? (note that am in the middle of claiming this) Will I not need to pay any tax once they review my case? Or, I still need to pay certain amount of tax and any left over in tax credit will be refunded to me at the end of the year?

Thanks,

[Citizenpain]

Tax credits are limited to your tax charge in a year-- any excess is lost

Tax 3000
Tax credits 3300
Due - Nil --- you do not get the excess 300

[Irishboard]

Thanks, do you know what the tax credit limit is? Does it depend on your circumstances?

[Citizenpain]

Tax credits are available for many many different situaltions and circumstances . there is no limit per say other then some ones that can not be claimed at the same time ---- for instance - you can not claim dependent relative & incapacitated child tax credits at the same time.


most are here

http://www.revenue.ie/en/tax/it/leaflets/it1.html

are you just claiming for 2012 --- or prior years?

[Irishboard]

I claimed for the last 4 years too. They are currently reviewing my case.