My good deed for the day

Could you do with a few hundred quid extra in your pocket in the next couple of months? Well read on......

You could be like me and not realise that there is a tax relief available to a lot of people that work in all areas including pubs, retail, hotels, construction, home help, healthcare, etc and you are entitled to claim for all years as far back as 2015.

Here’s the full list from revenue and the amounts available for all different types of employment
https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/documents/flat-rate-expenses.pdf

I know you can also claim back medical and some dental too. And a percentage of your mortgage interest still even if you purchased as part of tax incentive scheme.

You’d think that revenue would run an ad campaign telling tax payers what they can claim. But they don’t. So, why don’t us lovely members of boards help each other out a bit this week and spread the word to your family and friends if you think they may be in the dark too.

If anyone knows of any other tax credits, let the thread know.

Happy Friday

Edgware

Strawberry Milkshake wrote: »

Could you do with a few hundred quid extra in your pocket in the next couple of months? Well read on......

You could be like me and not realise that there is a tax relief available to a lot of people that work in all areas including pubs, retail, hotels, construction, home help, healthcare, etc and you are entitled to claim for all years as far back as 2015.

Here’s the full list from revenue and the amounts available for all different types of employment
https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/documents/flat-rate-expenses.pdf

I know you can also claim back medical and some dental too. And a percentage of your mortgage interest still even if you purchased as part of tax incentive scheme.

You’d think that revenue would run an ad campaign telling tax payers what they can claim. But they don’t. So, why don’t us lovely members of boards help each other out a bit this week and spread the word to your family and friends if you think they may be in the dark too.

If anyone knows of any other tax credits, let the thread know.

Happy Friday

Well done.

Is it a case of multiplying the annual flat rate expense by the tax rate you pay to calculate the actual benefit?

I would say that a lot of people are not aware of this and indeed any useful union should be able to canvass the Minister to make small annual increases.

TheValeyard

Strawberry Milkshake wrote: »

Could you do with a few hundred quid extra in your pocket in the next couple of months? Well read on......

You could be like me and not realise that there is a tax relief available to a lot of people that work in all areas including pubs, retail, hotels, construction, home help, healthcare, etc and you are entitled to claim for all years as far back as 2015.

Here’s the full list from revenue and the amounts available for all different types of employment
https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/documents/flat-rate-expenses.pdf

I know you can also claim back medical and some dental too. And a percentage of your mortgage interest still even if you purchased as part of tax incentive scheme.

You’d think that revenue would run an ad campaign telling tax payers what they can claim. But they don’t. So, why don’t us lovely members of boards help each other out a bit this week and spread the word to your family and friends if you think they may be in the dark too.

If anyone knows of any other tax credits, let the thread know.

Happy Friday

Is this you trying to make up for murdering an entire village of people?

Leg End Reject

Edgware wrote: »

Well done.

Is it a case of multiplying the annual flat rate expense by the tax rate you pay to calculate the actual benefit?

I would say that a lot of people are not aware of this and indeed any useful union should be able to canvass the Minister to make small annual increases.

If you're entitled to €500 tax credits per year, you get tax relief at the marginal rate of 20%. That would be a refund of €100 per year you haven't claimed it, up to a max of 4 years.

Medical expenses are calculated at 20% of qualifying expenses per year, again you can claim back for 4 years only.

Edgware

Edgware wrote: »

Well done.

Is it a case of multiplying the annual flat rate expense by the tax rate you pay to calculate the actual benefit?

I would say that a lot of people are not aware of this and indeed any useful union should be able to canvass the Minister to make small annual increases.

I’m not sure. I assumed if your flat rate is 95 euro that for the years 2015-2018 you get refunded the full amount. But I’ll go google. If anyone does know this answer though.......





And yes, vale, this is my penance for being a big bad wolf

Leg End Reject

Leg End Reject wrote: »

If you're entitled to €500 tax credits per year, you get tax relief at the marginal rate of 20%. That would be a refund of €100 per year you haven't claimed it, up to a max of 4 years.

Medical expenses are calculated at 20% of qualifying expenses per year, again you can claim back for 4 years only.

Ah it’s only 20% of that amount. Still, for general operatives in construction that would still be nearly 80 quid that’s better in your pocket than theirs.

Is the a rebate on refuse collection?

Leg End Reject

Strawberry Milkshake wrote: »

Is the a rebate on refuse collection?

That was done away with years ago.

ytpe2r5bxkn0c1

If a couple are both PAYE then it's always worth getting a balancing statement at the end of the year, even if the tax and allowances for each seems correct. The vagaries of how credits and allowances are spread between a couple can result in a credit for the pair overall. I did a return for a friend this year, no extras to be claimed, and they received a refund of just over €2000.

Oh. If you or your partner stay at home to look after the kids. Or look after an elderly person. Then the home Carers tax credit is currently 1500 euro

https://www.citizensinformation.ie/en/money_and_tax/tax/income_tax_credits_and_reliefs/home_carers_tax_credit.html

Redneck Reject

I have an elderly neighbour who lives on her own. She has a 20 something son who ignores her. So I always make sure she is stocked with food. Today she made me tea and said a few words in Spanish which surprised me.She is such a lovely woman and hearing her tales as a child is great, That is my good deed for the day.

XsApollo

Just be careful when claiming back credits for previous years as you might have to get a P21 for each year before you can apply credits .

Applied for flat rate expenses about 6 years and got stung for about 5k tax owing ðŸ˜.

How did that happen?

Atlantic Dawn

You couldn't really make it up that the highest credits go to RTE Orchestra staff at €2476 yet a mechanic gets €85.

Edgware

Atlantic Dawn wrote: »

You couldn't really make it up that the highest credits go to RTE Orchestra staff at €2476 yet a mechanic gets €85.

I know a professional violinst in an Orchestra and her violin was 15000 Euro. Of course a mechanic, electrician etc will also pay thousands for the tools of their trade

corner of hells

Enrique Gifted Quest wrote: »

If a couple are both PAYE then it's always worth getting a balancing statement at the end of the year, even if the tax and allowances for each seems correct. The vagaries of how credits and allowances are spread between a couple can result in a credit for the pair overall. I did a return for a friend this year, no extras to be claimed, and they received a refund of just over €2000.

This man speaks the truth , follow his advice.

Kermit.de.frog

The plebs are not meant to know OP.

dreamers75

Someone should setup a website that does this for you and charges 20%!!!

1 Stupid people
2 ??????
3 Profit????

GreeBo

And here was me getting all excited about a yard full of free milkshakes

GreeBo

GreeBo wrote: »

And here was me getting all excited about a yard full of free milkshakes

I’d recommend taking the money

lawred2

Enrique Gifted Quest wrote: »

If a couple are both PAYE then it's always worth getting a balancing statement at the end of the year, even if the tax and allowances for each seems correct. The vagaries of how credits and allowances are spread between a couple can result in a credit for the pair overall. I did a return for a friend this year, no extras to be claimed, and they received a refund of just over €2000.

Same for myself and the missus for 2018

Edgware

Strawberry Milkshake wrote: »

I’d recommend taking the money

Take what you can get and canvass for an annual increase before they decide to eliminate it due to "lack of interest"
This is what unions should be doing instead of proposing motions at their Annual Conference to ban Israeli oranges or blocking U.S. troop passing through Shannon

dxhound2005

Edgware wrote: »

Take what you can get and canvass for an annual increase before they decide to eliminate it due to "lack of interest"
This is what unions should be doing instead of proposing motions at their Annual Conference to ban Israeli oranges or blocking U.S. troop passing through Shannon

By far the largest group due to lose (shop assistants) will hardly miss their 46 cents a week. Lack of interest in claiming small sums does not surprise me, when I see the waste and unnecessary spending going on wholesale. Also the amounts of money in Dormant Accounts, unclaimed Lottery and Prize Bond prizes, and Punts still not converted to Euro.

https://www.irishtimes.com/business/personal-finance/minister-delays-flat-rate-expense-changes-until-2020-1.3705378

But if you work in a shop and have never claimed it. You can get a refund of 96.80 for the years 15-18. Just click into “my account” in revenue.ie

It’s better in your pocket than there’s, folks.

dxhound2005

Strawberry Milkshake wrote: »

But if you work in a shop and have never claimed it. You can get a refund of 96.80 for the years 15-18. Just click into “my account” in revenue.ie

It’s better in your pocket than there’s, folks.

My appeal would be to those who buy food and instead of eating it throw it away. On average every household could save about €700 a year. It's better off in your pockets than with the supermarkets folks.