Ads Area

IRELAND: How to file income tax by yourself step-by-step with screenshots UPDATE 2024

Claims not done till ?
How to file income tax by yourself step by step with screenshots. We are discussing most common tax credits and how to file income tax by yours self.
  • How to file income tax on your own?
  • HOW to CLAIM 1000 Euro RENT RELIEF? 
  • See step by step including screenshots...

Sign in to my account https://www.revenue.ie/en/Home.aspx


Login using my gov id or using pps number

If u don't have an account register ,click the Register Now Link and Register


Click the link Review your tax 2019-2022


Select the year you want to file ,for example select 2022

There are two menu .When you Click  View link in Employment Detail Summary you can see a summary of the pay and tax details reported by your employer (s)/pension provider(s) to Revenue.

Click on the Request Link to File income tax in the menu  Statement of Liability

Next window Personal details 

Fill all your Personal Details and  Bank Account details


Click next PAYE Income

Click Edit to add income, tax and USC details where these are not displayed or if you have paid non-refundable foreign tax on any of the PAYE incomes shown. If any source of PAYE income is not included, you can use the Jobs and Pensions service to update your records. If your pay and tax information is incorrect, please contact your employer/pension provider directly to have it corrected


 Click next to Non-PAYE income

You can confirmedit or delete income already on record. Add new income not already on record. Please declare if you have any income


Next window Tax credits & reliefs

You can  confirmedit or delete tax credits and reliefs already on record. Add new tax credits or reliefs not already on record.

To add tax credits Select each menu 

Select Health and select Health expenses


You can only claim for expenses that you have receipts for. You can claim relief on the last four year's health expenses. If you have private health insurance, you can claim tax relief on the portion of those expenses not covered by your insurer.

To claim Relief and Complete an IT return for 2019 and subsequent years, please follow these steps:

  •     Sign into My Account
  •     Click on ‘Review your tax’ link in PAYE Services
  •     Request a Statement of Liability
  •     Click on ‘Complete Income Tax Return’
  •     In the ‘Tax Credits & Reliefs’ page select ‘Health’ and ‘Health Expenses’
  •     Complete and Submit the form.

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/health-and-age/health-expenses/how-do-you-claim-health-expenses.aspx


Flat Rate Expenses

Flat-rate expenses are those that cover the cost of equipment your employee needs for work. This equipment may include tools, uniforms and stationery.Your employee must incur these costs in performing the duties of their employment, and the costs must be directly related to the nature of their employment. Flat-rate expenses are available to a wide range of professions. You can find details on the:

For list  https://www.revenue.ie/en/employing-people/employee-expenses/flat-rate-expense-allowances/index.aspx

To claim Flat Rate Expenses in the current year:

  • sign in to myAccount
  • select 'Manage Your Tax 2022'
  • click 'Claim tax credits'
  • select 'Your job' and click 'Flat Rate Expenses'
  • complete and submit the form

If you are a nurse select Hospital/Health Services,then nurse menu,then select appropriate menu ,for example where obliged to supply and launder their own uniforms then update

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/income-and-employment/flat-rate-expenses/index.aspx

 



Home Carer Tax Credit

To claim the Home Carer Tax Credit you must care for a dependent person. You must also be married or in a civil partnership and be jointly assessed for Income Tax (IT)

The dependent person you care for must be either:

  • A child for whom you receive the child benefit payment from the Department of Social Protection (DSP)
  • A person aged 65 years or over
  • A person who is permanently incapacitated due to mental or physical disability.

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/health-and-age/home-carer-credit/index.aspx

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-29.pdf

 

To claim Home Carer Tax Credit in the current year:

  • Sign in to myAccount
  • Select 'Manage Your Tax 2022'
  • Click 'Claim tax credits'
  • Select 'You and your family' and Click 'Home Carer Tax Credit'
  • Complete and Submit the form

Dependent Relative Tax Credit

Any individual who maintains a relative at his/her own expense may be due this credit. Dependent Relative tax credit is not due if your relative's income exceeded €16156 in the year 2022 or if this tax credit is claimed in full by another person.

A taxpayer's child is not generally considered a dependent relative unless they live with the taxpayer and are the taxpayer's carer. As claims may be checked, you must keep a record of payments made by you to maintain the relative.


To claim Dependent Relative Tax Credit in the current year:

  • Sign in to myAccount
  • Select 'Manage Your Tax 2022'
  • Click 'Claim tax credits'
  • Select 'You and your family' and Click 'Dependent Relative Tax Credit'
  • Complete and Submit the form 

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-27.pdf

Tuition Fees

Relief is available for fees paid by you to certain Private/Publicly Funded Third Level Colleges on behalf of yourself or any other individual.
The amount of the qualifying tuition fees paid should include the student contribution. Do not include administration, exam, registration, capitation fees etc.

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/education/tuition-fees-paid-for-third-level-education/index.aspx


Rent Tax Credit

Budget 2023 announced the introduction of a new Rent Tax Credit. This new tax credit will be available for the 2022 to 2025 tax years inclusive.

You will be required to make a claim for this credit. You can claim the credit for the 2022 tax year on your Income Tax Return, available from January 2023. Detailed guidance on setting out the conditions to be met to receive this credit has now been published.

For 2024 and 2025, the maximum value of the Rent Tax Credit is €1,500 per year for jointly assessed married couples or civil partners. The maximum value is €750 in all other cases, including single persons. This is the case no matter how many properties you pay rent for during the year.

Subject to a number of conditions, the Rent Tax Credit may be available where you pay rent for:

  • your principal private residence
  • another property you use to facilitate your attendance at work or on an approved course
  • and
  • a property used by your child to facilitate their attendance on an approved course.

Once claimants have signed into myAccount, they should:

1) Click on ‘Review your Tax’,
2) Enter the relevant tax year (this will be 2022),
3) Click on ‘request’,
4) Scroll down to ‘complete your Income Tax Return’,
5) Click on ‘Rent Tax Credit’, and
6) Work through the claim process as shown in the step-by-step guidance
contained on the following pages.


Claimants must first indicate if he or she is claiming the credit in respect of rent he or she has paid for a property which was used by him or herself or his or her child.

The claimant will be asked to confirm that he or she is not a supported tenant and that the landlord is not of a type which is outside the scope of the rent tax credit.


The claimant will then be asked to provide the PPS number of the tenant, either his 
or her own or his or her child’s, and asked to confirm if the tenancy has been registered with the RTB

Where the tenancy is registered with the RTB, the claimant will be asked to provide the RTB registration number assigned to the tenancy. As noted above, the RTB writes to all tenants who have been named on a tenancy registration with this number.

RTB Check The Register

 https://www.rtb.ie/check/index.html

If the tenancy is not registered with the RTB, the claimant will be asked if the rental arrangement is a rent-a-room or similar type arrangement.

As outlined above, only certain tenancy types are required to be registered with the RTB, however the rent tax credit is not restricted to such tenancies, and the credit is available in respect of some tenancy types which are exempt from that registration requirement.

However, if the tenancy is of a type which is required to be RTB registered but the landlord has not complied with that obligation, the claimant will not be eligible to claim the rent tax credit. Therefore, if the tenancy has not been registered with the RTB but does not qualify from a registration exemption, the claimant will not be able to proceed with his or her claim.

The claimant will then be asked about the duration of his or her rental arrangement.

The claimant will then be asked to provide the address (including Eircode) and LPT reference number for the property.
 

The next screen will ask the claimant to provide the details relating to the landlord or property agent acting on the landlord’s behalf if the claimant has been dealing with that agent rather than the landlord directly.

Finally, claimants will be asked to provide the name of the person they made the rental payment to, together with the amount they paid. The system will then
calculate the credit due. 

Mortgage Interest Tax Credit

The Mortgage Interest Tax Credit (MITC) was announced by the Minister for Finance in Budget 2023. Broadly, the new tax credit is a one-year tax credit for taxpayers who have made mortgage interest payments in respect of a qualifying loan for a principal private residence, where a number of conditions are satisfied.
 
 The relief is available to taxpayers with mortgage balances of between €80,000 and €500,000 as of 31 December 2022. The credit is available in respect of the 2023 tax  year only and is based on the increase in interest paid in 2023 over interest paid in 2022. The increase will, subject to a cap of €6,250, qualify for relief at the standard rate of Income Tax (20%). Thus, this equates to a maximum tax credit of €1,250 per property. Only one credit is available per property.
 
Claim Conditions: 
An individual is eligible to claim MITC for the 2023 tax year if he or she:
  • Paid interest on a qualifying loan in the years 2022 and 2023,
  • The interest on the qualifying loan increased from 2022 to 2023,
  • The outstanding mortgage balance on 31 December 2022 was between
  • €80,000 and €500,000,
  • The property (situated in the State) was his or her principal private residence, and,
  • Local Property Tax obligations in respect of that property are satisfied.
 Supporting Documents

In order to claim the MITC for the 2023 tax year, the individual must file an Income Tax Return. It is anticipated that the Income Tax Return to facilitate the MITC claim will be available from late January 2024. In order to claim the MITC the claimant must submit the following documents at the time the claim is made:
  • Certificate of Mortgage Interest 2022,
  • Certificate of Mortgage Interest 2023, and
  • Confirmation of mortgage balance at 31 December 2022.
  • The documents can be uploaded through Revenue’s online services.  
 
Claiming as a PAYE taxpayer

A PAYE taxpayer can claim the MITC for 2023 by completing an Income Tax Return in myAccount. To note, the three documents are required as
part of the claims process. To claim the credit and complete an Income Tax Return, the following steps are required:

  • Sign into myAccount.
  • Click on ‘Review your Tax 2020-2023’ in the ‘PAYE Services’ section.
  • Select 2023 from Tax Year drop down menu
  • Request a 'Statement of Liability' for 2023.
  • Click on ‘Complete your Income Tax Return’.
  • In the ‘Tax Credits & Reliefs’ page select ‘You and your family’ and click on
  • Mortgage Interest Tax Credit’.
  • Work through the claim process.
  • Submit the Income Tax Return  
Click to Next Window and Confirm the Declration 


Disclaimer: The information in this document is provided as a guide only
and is not professional advice, including legal advice. Source Credits Revenue.ie

Post a Comment

0 Comments
* Please Don't Spam Here. All the Comments are Reviewed by Admin.

Top Post Ad

Below Post Ad

www.indiansdaily.com GLOBAL INDIAN COMMUNITY
🔔JOIN:    

Ads Area

avatar
EDITOR Welcome to www.indiansdaily.com
Hi there! Can I help you?,if you have anything please ask throgh our WhatsApp
:
Chat WhatsApp