Medical Taxback on VHI excess - receipts issue?

burmo

Hi,

Apparently the Revenue site says that I can claim back tax relief on the excess of medical expenses from the VHI.

Any Non-Reimbursed Expenditure (i.e. after VHI Healthcare, Quinn Healthcare, Vivas Health, Health Service Executive, Compensation Refunds). For the tax year 2007 and onwards there is no longer any disallowance of the first €125 (or €250 for a married couple).

I have VHI First Plan Plus, which gives me back something towards day-to-day expenses such as going to the doctor. I get back €20 on my doctors expenses.

If I interpret it correctly I should be able to claim 41% back on the rest - i.e. €50 - €20 = €30 * 41% = €12.30 from the Revenue.

My question is, if I have to send receipts to the VHI to claim how do I keep receipts for the taxman should I be audited?

thanks,
burmo

The Thinker

The VHI will issue you with a benefits receipt which is acceptable for Med 1 expenses. You don't need to send in receipts to revenue, only hold on to them for 4 years (in case of audit)

The_Conductor

When they did away with the excess- they also put everything onto the 20% rate
So its €50 - €20 = €30 * 20% = €6

Better than nothing, but stingy- particularly if you have ongoing charges- where you got a reasonable amount of tax back previously, now its a pittance......

delly

The 20% only applies if that is what you have paid tax on for the year. If you have paid tax at 41% then you will get relief at that rate.

The_Conductor

delly wrote: »

The 20% only applies if that is what you have paid tax on for the year. If you have paid tax at 41% then you will get relief at that rate.

You're quite right- mea culpa. Thanks for clearing that up.

Shane

cupthehand

The Thinker wrote: »

You don't need to send in receipts to revenue, only hold on to them for 4 years (in case of audit)

I have just recieved notification of an audit on a claim I made 2 years ago. I have searched everywhere and have only been able to locate approx. 3/4 of the receipts covering my expenses also the figures I gave them were slightly exaggerated, not greatly - more rounded up rather than anything else. They want all my receipts for that period in 21 days time. Am I up sh1t creek for the obvious difference in figures?

burmo

How much money? It may be better to say you had them but lost them and offer as a gesture to refund the difference / pay a small fine?

Good luck...