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Medical insurance on tax returns

  • 02-10-2020 10:57am
    #1
    newhouse87
    Registered Users, Registered Users 2 Posts: 2,746 ✭✭✭


    Does anybody know if i was meant to add the 1000euro medical insurance relief to the 1650 and 1650 tax credits when doing my tax returns?


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    newhouse87 wrote: »
    Does anybody know if i was meant to add the 1000euro medical insurance relief to the 1650 and 1650 tax credits when doing my tax returns?

    If your employer is paying on your behalf as a benefit in kind you can add up to a maximum of 1000 per adult and 500 per child covered.

    https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/health-and-age/medical-insurance-premiums/index.aspx

    Whatever you do don't mix it up with Income Continuance.


  • #3
    newhouse87
    Registered Users, Registered Users 2 Posts: 2,746 ✭✭✭newhouse87


    essentially i had to do the last 4 years returns for the help to buy scheme and i added in the medical insurance just ticked the box wasn't thinking, i have vhi from work, just want to make sure i haven't made any mistake that will jepardise my help to buy application, it got approved but im wondering should i have left out the medical insurance bit even though it doesnt really have anything to do with the help to buy.


  • #4
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    newhouse87 wrote: »
    essentially i had to do the last 4 years returns for the help to buy scheme and i added in the medical insurance just ticked the box wasn't thinking, i have vhi from work, just want to make sure i haven't made any mistake that will jepardise my help to buy application, it got approved but im wondering should i have left out the medical insurance bit even though it doesnt really have anything to do with the help to buy.

    If you already had it applied and unticked it, it could have caused an underpayment of tax for those years. By filing the tax returns you declaring that you are tax compliant. You are making a legal declaration that the information in the return is correct and all your sources of income have been declared & all credits/reliefs claimed are valid.


  • #5
    newhouse87
    Registered Users, Registered Users 2 Posts: 2,746 ✭✭✭newhouse87


    relax carry on wrote: »
    If you already had it applied and unticked it, it could have caused an underpayment of tax for those years. By filing the tax returns you declaring that you are tax compliant. You are making a legal declaration that the information in the return is correct and all your sources of income have been declared & all credits/reliefs claimed are valid.

    hmm i will contact them and see so, i dont by ticking it it made a difference but i will check thanks.


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