You can claim tax back, but you’ve only got two days to make the most of it

ATAX rebate would be a nice way to clear your credit card bill after Christmas when the cost of the festive splurge rolls in. Well, you are probably due one – if only you bother to claim it. In fact, the average rebate would cover the cost of the average Christmas per adult with a little to spare, according to rebate specialist accountants Taxback. com, who have released a ‘top ten’ list of neglected tax breaks.

The average rebate obtained by Taxback.com for clients is €1,076.

That would more than cover the €966 cost of the average Christmas per Irish adult, according to the most recent study.

Taxback.com have urged people to examine what they might be owed going back to 2015, before the deadline for claiming back tax for that year expires at midnight on this coming Tuesday, December 31.

You can get an accountancy firm like Taxback to do it for a fee – or you can easily do it yourself too.

‘We are calling on anyone who has had a medical expense, who has paid tuition fees, who cares for children or incapacitated relatives, and many others, to come forward and ascertain whether or not they could be entitled to a refund,’ said Joanna Murphy, CEO of Taxback.com,

‘Once we hit January 1 the chance to claim any refund for 2015 will have been missed. However, people will still be able to claim for the years 2016, 2017, 2018 and 2019.’

Ms Murphy said: ‘We try to highlight reliefs and refunds that people simply might not know about. The list we have come up with this year reflects some of the most popular refunds – like medical expenses and the Home Carer Credit.’

Medical expenses relief is basically ‘what it says on the tin’– i.e. relief on medical costs that have not been reimbursed by insurers. You claim by filling out a simple form – available online or from your tax office. You don’t need to show the receipts but you need to have them in case asked later in an audit.

‘It might be tempting to throw them out in the bin, but I would advise people to keep a shoe box or something similar into which you throw doctors’ bills, pharmacy receipts and bills for any other medical, and also dental, expenses.

‘It will make it so much easier at the end of the year,’ said Ms Murphy.

A Home Carer Tax Credit is another hugely neglected relief. It can be claimed when:

The married couple or civil partners are jointly assessed for tax;

One spouse or civil partner works in the home caring for one or more dependent people;

The home carer’s own income is under €7,200. A reduced tax credit applies if the carer’s income is between €7,200 and €10,200.

Tens of thousands of people fail to claim this valuable credit which is worth €1,500 a year into your hand, rising to €1,600 in 2020. In 2015, the credit was €810 – which is still a fair whack of money in your hand.

Another neglected but often lucrative tax break is Working from Home relief. This applies if you are an employee but work from home sometimes or always and run up expenses such as heating or broadband.

Your employers can cover expenses to the tune of €3.20 a day or you can claim back tax for itemised expenses separately once you have receipts.

If you have paid third-level fees for yourself or your son or daughter, you could also be due a tax refund for certain courses.