Claiming health expenses

reddanmm

Hi all I have just submitted dental expenses of €5600 for 2024 . I am hoping it will be refunded to my bank account but it is coming back as tax relief increased by €1120 . I don’t want to finalise it unless I know for sure .

pic attached

Calahonda52

its 20% of the 5600, I trust its all Med 2 type work

reddanmm

https://www.boards.ie/discussion/comment/121844668#Comment_121844668

Hi , yes it is .

reddanmm

Hi my question is will I get tax credits or a refund . I don’t want credits .

sonyvision

2024, your on the ball with getting the work done.

I don't think you will get it back in one hit, instead your credits and been increased and thus are phased in over the year equally. Meaning if your paid month when your employeer pays you in March you will get 3/12 of the increase in credits applied and those get roughly 300 euro back.

It's seems its revenues way to make sure you don't get a refund your not entitled too.

reddanmm

Thanks, the payments are over 2 years which I have submitted together with a total of €12500. I have claimed for 2023 the bulk of the payment was in Feb . I have submitted the MED 2 for non routine dental for both . Surly I am entitled to have the 20% returned to my account .

CrookedJack

I've just gone through the exact same process. Claims for the current tax year are returned as a tax credit increase, as the tax year is still open. Claims for previous years where the tax year is closed will result in a balancing statement and any overpayment of tax will be returned to your bank account.

reddanmm

Thanks . Thats really not fair . If we am taxed jointly does that mean it will be shared or will it go to my own tax credits 🤔

wench

...

CrookedJack

https://www.boards.ie/discussion/comment/121844813#Comment_121844813

It has nothing to do with fairness, they can't tell if you've overpaid until the tax year closes so can't refund your tax before that.

reddanmm

I see your point but have never overpaid in the 20 years I have been working . Tax credits are ok but because we are jointly assessed it seems that my refund will be shared by both of us which certainly isn’t fair . How do I ensure I get the tax back on what I paid back to me .

CrookedJack

To be clear, you only get a tax refund where you've overpaid tax. Generally, they can only tell that you've overpaid once the year is closed. So to get a refund you'll need to wait until 2025 to get a balancing statement and see what you've overpaid.

I believe, though I'm not certain, that where your payment of a health expense covers multiple years you can submit it entirely in the year you incurred the liability (so last year). Or claim the part you paid in each year. You would need to double-check that one.

Spanish Eyes

As others have said, if you want the money in your bank account, you will have to wait until January 24 to claim for expenses incurred in 23.

Otherwise it is given as a tax credit for expenses incurred in the current tax year.

So you can decide what's best for you, as you have a choice and can cancel the current Med 2 expense claim (as in your screen shot) and re apply in 2024 for the refund to be lodged directly to your account.

relax carry on

https://www.boards.ie/discussion/comment/121844721#Comment_121844721

It's like any other tax credit or relief you claim during an active tax year for the active tax year. It's added to your active tax year tax credit and reduces the amount of tax you pay in the active tax year. If you wanted a potential lump sum payment then you'd need to wait untill the active tax year ends, which is 31/12/2024. You can then submit your annual tax return form 01/01/2025 for the tax year 2024 declaring all sources of income and claim any additional tax credits/reliefs. If any refund is due then, it comes directly from Revenue. The outcome is exactly the same moneywise either way.

reddanmm

Thanks , would you know if it will go direct to my tax credits or will it be shared between my husband and I as we are jointly assessed.

I want it to go to mine only .

Jim_Hodge

https://www.boards.ie/discussion/comment/121845248#Comment_121845248

Genuine question. Why are you joint assessed if you what what is yours to go directly to you?

https://www.boards.ie/discussion/comment/121845248#Comment_121845248

It should go to you. You can amend your tax credits allocation in your Revenue MyAccount.

reddanmm

Thank you, do I increase my allowance by €1,112 which is 20%.

Goldengirl

If you don't want your husband to benefit from it just contact the tax office to ensure this...

You can also ask to be assessed separately / differently but it would have to be in person afaik or by phone call.

reddanmm

Thanks will contact them in the morning.

reddanmm

https://www.boards.ie/discussion/comment/121845259#Comment_121845259

I don’t know it states shared credits , but I can only claim for something in his online account it doesn’t work on my own account .

shmeee

https://www.boards.ie/discussion/comment/121846201#Comment_121846201

Yes, because he is the nominated assessable spouse. You can change this and become the assessable spouse if you wish.

"How to select an assessable spouse or nominated civil partner" details on revenue.ie

https://www.revenue.ie/en/life-events-and-personal-circumstances/marital-status/marriage-and-civil-partnerships/joint-assessment.aspx