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MED2 claim

  • 21-03-2016 3:45pm
    #1
    FebruaryStars
    Registered Users, Registered Users 2 Posts: 21 ✭


    Hi, could someone please tell me if there's any advantage or disadvantage to claiming for the cost of braces over two or more tax years?
    My braces will cost €5,000 overall. I paid €1,000 in December 2015 and I'm paying €200 per month this year and into next year.
    So, should I claim for the €1,000 now, the cumulative 2016 payments next January, and the cumulative 2017 payments the following January? Or, should I wait until the entire cost has been fully paid and then make the claim?

    Thanks in advance.


Comments

  • #2
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    I'd imagine that the work is ongoing so accruing over time rather than having been incurred in Dec 15 and being paid off.

    revenue.ie/en/tax/it/leaflets/it6.pdf

    If you pay tax in each year it does not matter which year you claim it. You should get the Med2 form and claim based on the payments made in each year.


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