Tax on health insurance - question

TripleAce

Hi,

a couple of weeks ago I paid my yearly Health Insurance policy with Laya, for the first time I included both myself and my wife (usually her company was paying for hers but now she is contracting for a new company and as such does not have health insurance benefits, so my company is covering for both).
I paid 2416€ and claimed the expense back to my company as per standard process.
Now I received my payslip and I can see 1279€ have been as tax deduction for the medical insurance. It seems pretty high to me - is it normal? I guess this is deducted once per year, correct? Is there any allowance to get part of this tax back?

Thank you for your help...

another question

As for as my understanding goes, you are liable for 1) tax on the premium your employer pays and 2) a benefit in kind which is usually a small part of the premium cost.

Citizenpain

It sounds right assuming you are on the higher tax band

dobsdave

TripleAce wrote: »

Hi,

a couple of weeks ago I paid my yearly Health Insurance policy with Laya, for the first time I included both myself and my wife (usually her company was paying for hers but now she is contracting for a new company and as such does not have health insurance benefits, so my company is covering for both).
I paid 2416€ and claimed the expense back to my company as per standard process.
Now I received my payslip and I can see 1279€ have been as tax deduction for the medical insurance. It seems pretty high to me - is it normal? I guess this is deducted once per year, correct? Is there any allowance to get part of this tax back?

Thank you for your help...

Next time get your employer to pay the subs by the month, this would space the tax repayment out monthly over the year.
You can claim 20% of the gross amount paid for you in 2012, next year.
Forms are on revenue.ie

Citizenpain

dobsdave wrote: »

Next time get your employer to pay the subs by the month, this would space the tax repayment out monthly over the year.
You can claim 20% of the gross amount paid for you in 2012, next year.
Forms are on revenue.ie

Odds are that the OP paid the Health insurer themselves Net of TRS - so no further tax refund due for 2012

TripleAce

Citizenpain wrote: »

Odds are that the OP paid the Health insurer themselves Net of TRS - so no further tax refund due for 2012

Yes basically gross amount was about 3000€, net amount 2400€. I paid 2400 and then claimed back through my company. Then on my following payslip I got charged 50% of that amount in taxes (about 1200€).
Is this standard? Are no further tax refund due to me for 2012?

Thank you for your help....

Citizenpain

Sounds right --- you were probably taxed at 52% actually