PAYE, PRSI & USC Refunds:
For PAYE workers that have overpaid taxes or would like a review of their tax credits to ensure they have claimed all their entitled credits, Jigsaw Financial Solutions can review this on your behalf and organise a refund of taxes where applicable within 2-3 working days. A review of the current years credits and the last 4 years will be carried out.
A check will also be made under your PRSI for an overcharging. If there has been an overcharge made an application for this will then be made on your behalf to the Department of Social Protection.
Review of PRSI Contributions
A review of your social insurance record can be carried out to establish your entitlements are for maternity pay, illness benefit, job seekers & state pension
Top Slicing Relief:
If you were made redundant or had a fixed-term contract and it has ended early, you may get a lump sum in compensation. If you receive a lump sum in compensation for the loss of employment, part of it may be tax-free. The statutory redundancy lump sum is always tax-free. If you have been taxed on the balance of the tax-free amount you may be entitled to a further tax relief known as top slicing relief. This relief was abolished from 1st January 2014 but is still available to claim for redundancies in 2013.
A form 12 is a tax return form for employees operating under the PAYE system, non-proprietary Directors & pensioners where your profit from a specified activity does not exceed a threshold. Often individuals are randomly selected to complete these forms and return to their local inspector of taxes. If you require any help with the completion please contact Lorraine under the contact us page.
Health/Nursing Home/Dental Expenses Refund (Med1/Med2)
You may claim tax relief on a Form MED 1, at the standard rate of tax (20%) (with the exception of nursing home expenses for which tax relief is still available at your highest rate of tax) for certain medical expenses incurred by you, on your own behalf or on behalf of another person. Most medical expenses, with some exceptions e.g. routine dental and ophthalmic care, qualify for relief under a Med2
You cannot claim relief for any expenditure which has been or will be reimbursed, e.g. by Aviva Health, Laya Healthcare, VHI, Glo Health or a Health Authority, or where a compensation payment is made or will be made.
If you wish to apply for a refund of your health/medical expenses please follow these simple steps:
- Print off sign and return the agent-link-notification-form & Form PAYE A1 letter.
- Email/post a copy of your P60(s)/P45(s) for the relevant years (claims can be made for the last 4 years).
- Email/post a total of your medical expenses less any amounts reimbursed through your health insurance policy/under any form of compensation. Copies of these receipts, whilst not required to obtain your claim, must be kept for a period of 6 years in the event of a Revenue audit.
Examples of medical expenses:
- Services of a doctor/consultant
- Items and treatments prescribed by a doctor/consultant
- Educational Psychological Assessment for a dependent child
- Speech and Language Therapy for a dependent child
- Orthopedic or similar treatment(on referral from a doctor or other qualifying practitioner)
- Diagnostic procedures (X-rays, etc.)
- Physiotherapy or similar treatment(on referral from a doctor or other qualifying practitioner)
- Expenses incurred on any medical, surgical or nursing appliance
- Maintenance or treatment in a hospital
Examples of dental treatments:
- Veneers/Etched Fillings
- Tip Replacing
- Post and Core Build-ups
- Endodontics – Root Canal Treatment
- Periodontal Treatment
- Orthodontic Treatment
- Surgical Extraction of Impacted Wisdom Teeth
Jigsaw Financial Solutions will prepare & compute tax returns for the self assessed.
Self assessed include:
- PAYE workers with additional incomes with a profit threshold greater than €3,175 per annum
- Pensioners with a number of sources of income
- An individual disposing of shares or property where a income tax and a possible capital gains tax liability arises
Contact us page for a competitive quote for your tax return and filing requirements.