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Have you claimed your tax credit? There is time until tomorrow…

DUBLIN: Do you have tax credit? There is time to check till tomorrow. Economists are warning that if 2018 tax refund claims are not submitted by midnight on Saturday, thousands of euros could be lost. Remote working relief and rent tax credit can also be claimed now.

The tax credit must be claimed within a four-year time frame. As per experts, tens of thousands of people have yet to file a refund claim.

Every year, people are said to pay billions of euros in excess taxes.

Around 500,000 people paid more than €300 million in income tax last year.

Experts estimate that the average tax refund will result in a loss of €667 per person. They also warn that waiting until the last minute could mean missing out on the opportunity to claim a tax credit.

Whether to claim remote working relief…

Work-from-home workers can claim remote working relief this year. Work-from-home employees can claim remote working relief given the huge increase in heating and electricity bills. This relief allows you to claim back 30% of your charges. This must also be claimed within this time frame. Late claims may cause refunds to be delayed.

Renters and parents paying rent on behalf of their student children can also claim the recently introduced rent tax credit, according to Tax Back. 

In the tax years 2022 and 2023, an individual can claim a rent tax credit of up to €500 per year, while married couples and civil partners can claim a rent tax credit of €1,000 each. The scheme was introduced in last September’s budget.

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