Tax Refund Tip-Medical expenses claimed 2010??

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Hard earned cash

In the 1st of a series of Quintas Tax Tips we will explain how to claim back some of the hard earned cash that you have spent on medical and dental expenses. This includes doctors and hospital bills and prescription charges, etc. which are not reimbursed under a medical insurance scheme and certain non-routine dental expenses.

Despite a national advertising campaign by revenue over the last number of years, there is still a significant sum of cash that is not being claimed correctly by tax payer’s.

Now is the perfect time of year to claim your tax relief for any medical expenses incurred during 2010 as you should have received your P60 and income levy certficate for 2010 from your employer. 

MED 1 – Medical expenses and prescription costs 

Full details of qualifying expenses are shown on the form Med 1.  In addition, if you pay medical expenses on behalf of any other person (whether or not they are related to you is no longer relevant), then these expenses qualify for relief also. People who are Celiac or Diabetic can claim tax relief on expenses incurred in the purchase of any special foods which they require as such purchases qualify as medical expenses. 

MED 2 – Dental expenses (non-routine)

The Med 2 claim form relates to dental expenses incurred for non-routine dental work. This would specifically exclude for example, relief for expenditure incurred on the extraction, scaling and filling of teeth and the provision and repairing of artificial teeth or dentures.

Examples of non-routine dental work would be crowns, veneers and orthodontic treatment (this involves the provision of braces and similar treatments) etc.

To make a claim your will need a completed Med 2 form from your dentist and ensure to include the cost for same as part of the Med 1 form noted above.

How to make a claim
To claim either of the above relief’s  please click here and follow the link to Revenues website and complete the relevant form and send it to your local revenue office. All medical bill receipts should be retained for a period of 6 years, should Revenue ever wish to inspect them.

If you have registered for PAYE Anytime through ROS, you can review your tax credits and previous claims and also arrange for the refund to be lodged directly to your bank account.

It really is that simple to claim back some of the expenses that you have incurred and which you are entitled to a refund on from revenue.  A claim can also be submitted for the past 4 tax years (2007, 2008, 2009 & 2010) if you have not done so already.

Please note that the rate of tax relief for medical and dental expenses was reduced from the higher tax rate (currently 41%) to the standard tax rate (currently 20%) in 2009, so there is double relief available for 2007 and 2008.

Regards

Mark Ryan

Mark is a Director of Quintas and heads up the Business Centre

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