If you worked in any of these countries, you could be due a Tax Refund

6 Tax Credits that Irish Medical Professionals Should be Claiming!

#TaxTipsIreland

Hey! Medical professionals and healthcare workers!

Boy, oh boy, do we have some great news for you!

You might be surprised to hear that there are a whole bunch of tax credits that you can - and really should - claim. Yep, you could be owed a lot of money back from the tax man. In fact our average Irish refund is €1076.17!

Sounds good, right? But what are these tax credits and how do you claim them?

 

1.      Flat Rate Expenses

Ok, let's start with an easy one! Healthcare workers may be eligible to claim money back on their work uniforms. Uniform costs fall under Flat Rate Expenses. However, tax credits associated with work uniform expenses only apply in certain circumstances.

Currently Flat Rate Expenses for medical professionals are as follows:

 

Hey! Medical Professionals! Want a Tax Refund?

Yes! Show me the Money!

 

3.      Medical and non-routine dental expenses

This is a popular tax relief claimed by medical professionals. If you’ve been to the doctor or the dentist in the last 4 years, you could be due money back. Oh, and unexpected things like physiotherapy, ambulance transport and purchasing gluten free foods for coeliacs can be claimed as relief.

Here’s our guide on claiming tax relief on medical expenses – check out this article for a fully comprehensive list of all of the different medical and dental expenses that you may be able to claim.

 

4.      Permanent Health Benefit Contributions

Did you know that medical professionals who pay a premium to protect their income in the event of a disablement through an illness or injury are entitled to tax relief on that insurance?

You’ll be owed tax relief based on the premiums that you’ve paid in the year that you’re claiming for. The relief is allowed by either your employer – who will deduct payments from your pay check through the PAYE system or by Revenue who will adjust your standard rate cut-off point and tax credits.

There is a 10% limit on this relief meaning the relief you’re eligible for is limited to 10% of your total income for the tax year.

 

Hey! Medical Professionals! Want a Tax Refund?

Yes! Show me the Money!

 

 

4.      Private Health Insurance

You might be surprised to hear that even if your employer pays for private health insurance, you may still be able to claim tax relief on medical expenses. You’re granted tax relief for private health insurance at source but you can still claim money back in some circumstances on medical and dental expenses.

For more info about tax relief on private health insurance click on through to our blog.

 

5.      Tuition fees

If you’re a medical professional, there’s a good chance you’re either paying for education or have paid for education. Maybe you even have kids in college and you’re paying for their education?

Tuition – whether you’re paying it for yourself or someone else – can be a massive financial burden.The good news is, there's a good chance that you can claim tax relief on college tuition expenses.  To get some of your hard-earned cash back form the payment of third level fees, you must fill out and submit an IT31 form.

So whether you're fresh out of medical school or you're paying 3rd level fees for your son, daughter or another individual, you should look into your tax entitlements since it could save you a lot of money. Find out more here.

 

6.      Married tax relief

Many couples can reduce their tax bill after they get married. You’ll save money if:

  • Both you and your spouse are working but only one of you pay tax at the higher rate (40%)
  • Both you and your partner are working and one of you have unused credits
  • Only one spouse is working
  • One spouse cares for children in the home
  • You're disposing of assets or making investments

 

A married couple can earn up to €69,100per tax year, paying tax at 20%, before the higher rate (40%) of tax kicks in. So the bad news is that if both you and your partner are earning €34,550per tax year (or more)+

, you’ll both already be taking full advantage of the standard-rate tax band and no tax saving is available.

Similarly, if you both work and earn less than €34,550per tax year each, you won't be any better off when it comes to tax.

For more info on this, check this out.

 

Want to claim a tax refund?

Taxback.com are here to help! Our team of friendly tax experts are on hand 24/7 to answer any questions you may have or to help you with the tax filing process.

  • We'll review your finances as far back as 4 years and check what reliefs and credits you might be missing out on.
  • Our average Irish refund is €1076.17
  • We'll send your refund straight to your bank account

Visit our website to get the ball rolling. We’ll make sure you get what you’re owed… and not a penny less!

About The Author

Stephanie Meagher - Content Creation Specialist @ Taxback.com

After graduating with a BA in Creative and Cultural Industries, I worked as a freelance content creator and blogger, that is before joining the Taxback.com team! When I'm not busy writing, I can be found enjoying the company of my four pugs or blogging about horror movies and podcasts.

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