What are flat expenses?

BrokenArrows

On the list of things to claim on the PAYE anytime is flat expenses.

What are they?

jockey#1

Depending on what your occupation is you maybe entitled to additional relief e.g. nurse having to clean their uniform. There is an excel list on the Revenue's website.

Rofl Lundgren

BrokenArrows wrote: »

On the list of things to claim on the PAYE anytime is flat expenses.

What are they?

http://www.revenue.ie/en/tax/it/leaflets/flat-rate-expenses.xls

That's the link, if your occupation is listed, you can claim relief. If you're registered for PAYE Anytime, it's a pretty quick and easy procedure.

The relief is granted at the standard rate (20%), so if the excel sheet says you're due €200, you get €40 tax back.

Ricosruffneck

It's granted at your highest rate of tax,

If you paid 41% tax in the previous year you would be due to recieve 41% of the value of the credit.

Rofl Lundgren

Sorry for the pedantry (but it's sort of necessary when dealing with tax). Ricosruffneck is correct that the relief is granted at your highest rate of tax, apologies for assuming you were within the standard rate band.

The relief is also a deduction, not a tax credit. This means you subtract the whole amount of the relief from your taxable income. If it was a credit, you'd subtract the relief from the amount of tax you pay.

Ricosruffneck

My learned friend is correct in saying that it is a deduction.

Now go claim your prize, whatever you want to call it. Money in da bank.