Med 2 Form (Dental Work)

Solarball10

Hi Guys

Just recently got braces, what I want to know is, when do I actually fill up the Med 2 form and send it off to get my tax back?

Also for any other general medical expenses that you run up during the year, prescriptions etc, what form is used to claim back, and again, is it at the end of the year you send it, along with all the documentation? (prescription slips, receipts, etc?)

The Thinker

Med 1 and Med forms are filled in the year after they took place i.e. Dental work paid for in 2008 can be claimed from 1 January 2009. Med 1 form is used for general med expenses refunds. You can download the formes from www.revenue.ie - you can also create an online account and do everthing online.
You don't need to send in receipts, but you need to keep them for 4 years (in case of audit).
Not sure if braces are eligible for refund - your dentist can tell you (and also fill out the Med 2 form for you)

magconn

Anyone have any idea roughly what kind of refund/rebate i would get back after spending 6,250 euro on dental work(implants)? and is it right that it can be claimed back in January (work just completed in November). (20% tax rate PAYE).

Thanks for any info

IsThatSo?

Most of us have medical bills. Some of these bills are covered by health insurance, some are not. Many families pay the first €90 (1st January 2008) per month of their prescription drugs costs. The Health Service pays the rest. Anything that's not refunded can be claimed as a tax relief. You send us in the details, we send you a refund cheque.
If you pay tax at 20% and have expenses of €1,000 in 2007, that's worth €200 to you. If you pay tax at 41%, your refund will come to €410.
The best way to claim is by using PAYE self-service, our new internet service for PAYE taxpayers. If you sign up for PAYE self-service you can manage your own tax from now on.
Tips

• You require details of health expenses incurred in 2007; there is no need to submit receipts, however medical receipts must be retained by you for 6 years
• You need details of Pay and Tax for the year ended 31 December 2007. They will be on your final payslip of 2007.
• The option to claim your 2007 expenses online will be available from 1 January 2008. So why not register now for PAYE self service, and make your claim online?
• It's more worthwhile claiming for 2007 because there is no longer any disallowance of the first €125 (or €250 for a married couple). Now, you can claim everything that you pay out of your own pocket.

pasted from url quoted above by The Thinker. Figs for 2008 not available there yet, but its going down to 20% for everyone.

The_Conductor

magconn wrote: »

Anyone have any idea roughly what kind of refund/rebate i would get back after spending 6,250 euro on dental work(implants)? and is it right that it can be claimed back in January (work just completed in November). (20% tax rate PAYE).

Thanks for any info

Depending on how much tax you paid- a maximum of EUR1,250.

gina_d

Hi All,

They seem to be slipping it in under everyone's notice but the amount of tax that you can reclaim from your MED1 form is being reduced from higher rate of tax to standard rate of tax. This will apply to any expences paid after 1st January 2009.

This means that next year, even if you pay 41% tax in PAYE, you can still only claim 20% tax back on your medical expences like braces etc.

With everything else going on in relation to the budget, this is really getting swept under the rug, but if your in the process of paying for braces, this could mean the difference of a few hundred.

Double check with your tax office, but i would advise anybody that can to try and pay as much towards your medical expences before the end of the year in order to claim the maximum relief.

Best of luck.

G