DUBLIN: Did you know that nurses in Ireland can get back up to 40% of the €100 retention fee they pay to the NMBI?
TASC Accountants, Ireland’s leading public tax accounting firm, have found that most nurses in Ireland are not taking advantage of this benefit, which is effective from 2019.
When the uniform allowance is received as flat expense, a certain percentage of the retention fee is refunded in the form of other expenses.
The tax return from the retention fee is also proportional to the tax rate. Those who pay 20% tax will get 20% and those who pay 40% tax will get back 40%.
The NMBI Registration Retention Fee is included in the Professional Membership Fee item as per Section 114 TCA of Revenue Tax.
Those who claim a professional membership fee benefit for the first time in 2021 are eligible for arrears for the past two years.
The finding is that most of those who apply for a tax refund directly to Revenue are not availing the new benefit.
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