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BIK question

  • 27-07-2009 8:45pm
    #1
    keiran
    Closed Accounts Posts: 25 ✭


    Hi,

    My company pays the full health insurance (Hibernian Aviva)for me and my dependant.Although I don't pay the insurance fee itself,my monthly paid PAYE PRSI and Levy were increased by this BIK.
    I wonder if I could claim back the tax paid on this BIK as health insurance should be TRS.
    Any advice will be highly appreciated!


Comments

  • #2
    Salvelinus
    Closed Accounts Posts: 272 ✭✭Salvelinus


    I remember something like this in one of my previous jobs. I think you are due the difference of the two tax rates. Best to contact the revenue.


  • #3
    djk1000
    Closed Accounts Posts: 899 ✭✭✭djk1000


    yes you get tax relief on it, you have to apply by filling in this form http://www.revenue.ie/en/tax/it/leaflets/it5.pdf It also gives a good explanation.


  • #4
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    You can also claim back for a number of years (4?) - I brought this to a load of people's attention in a company I worked with last year. Some jumped right in and reclaimed a lot of money. Some weren't bothered even though it was a significant amount of money.


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