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Medical Insurance relief query

  • 10-03-2016 10:32AM
    #1
    Registered Users, Registered Users 2 Posts: 19


    Just curious to see if anyone has any experience in this, I will be contacting the tax office in due course.

    I originally had a medical insurance relief tax credit of 200 for year 2014. I received health insurance through my employer from Jan-Jul (BIK) inclusive that year and then I changed jobs.

    I applied for a P21 balancing statement for 2014 recently and was told I underpaid by €155. Also on the P21, medical insurance relief tax credit for that year is 45.40 instead of 200. I had a trawl through my tax docs and can’t find an amended tax certificate with details of any change (that’s not to say I didn’t get one).

    I ended up paying health insurance through BIK for an additional 2 months in 2014 with my new company which brings to total 9 months where I benefitted from this tax credit. I would have thought at most I would owe for the 3 months I didn’t need this credit. (3/12 x 200) = 50

    Or if for some reason I was not entitled to the tax credit under the new policy, then 5 months. (5/12 x 200) = 83

    I switched to paying privately in Jan 2015 and also noticed the medical tax credit was still on my 2015 tax credit cert. I rang the tax office and asked it to be removed and also explained my 2014 situation. When I asked if I owed anything for 2014 I was told no.

    So my next step is to query the underpayment with the 2014 tax cert I do have. Can’t see how they went from 200 to 45. If anyone has any info on how this works that would be great. I will share my result here once I have it.


Comments

  • Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    The Medical Insurance relief figure is generated directly by what the employer has put down on their annual p35 return.

    So, if it is less than had originally been on, the P35 may have overwrote the original credit amount, with the new amount.

    Revenue won't have any way of knowing you have transferred over to a Private arrangement, so you did the best thing by contacting them to arrange the credit be removed from this year


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