Taxpayers can now seek refunds for any excess income tax, USC, and PRSI paid for Tax years 2021 through 2024. It is critical to note that Tax claims for the 2021 tax year must reach Revenue before December 31, 2025; after this date, repayments become statute-barred and are lost forever.
In addition to seeking refunds for excess income tax, USC, and PRSI paid for tax years 2021 through 2024, individuals may be eligible to claim other tax reliefs and credits before the year end. Common claims include:
- Medical Expenses: Tax relief is available for qualifying unreimbursed medical expenses incurred during the year.
- Tuition Fees: You may be able to claim tax relief on eligible third-level tuition fees paid, excluding registration fees and examination fees.
- Home Renovation Incentives: Relief may be available for qualifying home improvements under certain government schemes.
- Rent Tax Credit: Individuals who pay rent for their principal private residence may be entitled to a rent tax credit, subject to eligibility.
- Pension Contributions: Contributions to approved pension schemes can qualify for relief if paid by the deadline.
- Dependent Relative Tax Credit: If you support a dependent relative, you may qualify for a tax credit.
- Flat Rate Expenses: Certain professions and trades are eligible for flat rate expense deductions.
- Remote Working Relief: Claim for utility expenses via Online Accounting records if you worked from home.
To ensure you maximize your tax entitlements, review your circumstances and submit any relevant claims to Revenue before the December 31 deadline for 2021. If you’re unsure which reliefs apply to your situation, contact us for further information.