MED1 Return

oB1

I have circa 2,000 worth of medical expenses to claim on MED1 this year. First time doing it, just wondering if i do it online via PAYE AnyTime, does the outcome get paid to your bank account directly?

the online MED1 form suggests as a "tax credit" so just wondering if it will be added as a tax credit vs paid directly to my bank account..

thanks!

L1011

Its paid to your account (or by cheque) if claiming for a previous year and you don't owe them money.

relax carry on

oB1 wrote: »

I have circa 2,000 worth of medical expenses to claim on MED1 this year. First time doing it, just wondering if i do it online via PAYE AnyTime, does the outcome get paid to your bank account directly?

the online MED1 form suggests as a "tax credit" so just wondering if it will be added as a tax credit vs paid directly to my bank account..

thanks!

First of all, since Revenue provide an online service which is quicker than completing a manual med 1 form, why would you use one?

Once Revenue have your bank details on file, any refunds due issue to that bank account. If they have no details for you, a cheque issues.

Any claims relating to prior tax years which result in a refund, are paid out by Revenue to your bank account or cheque as already discussed.

Any changes to tax credits, reliefs etc relating to the current tax year which would result in a recalculation of your tax for the current tax year, are administered by your current employer when they receive an amended tax credit cert for you. This may result in a combination refund and you paying less tax on your wages for the remainder of the year.

Finally, I'm curious, where on the Med1 form does it mention tax credit as I've had a quick scan of the form on Revenue.ie and can't see it.

Carawaystick

relax carry on wrote: »

First of all, since Revenue provide an online service which is quicker than completing a manual med 1 form, why would you use one?

If you don't have an online account or can't remember your pasword/pin, the paper form takes longer