Income protection tax credit

M

masterboy123

Registered User
Messages
440
Hi,

I am paying €1300 towards income continuance.

I have to manually add the "Income Continuance" tax credit on the Revenue online account in 2025. The system will not allow it, possibly because it is a large amount, and has requested that I submit the policy using the Revenue site.

What tax credit should I expect for €1300 annually?

Thanks
 
The tax relief is at your marginal rate.
 
40% if you earn about 44,000 in 2025 OR 20% if you earn less

43 or 22 a month basically
 
cally1990 said:
40% if you earn about 44,000 in 2025 OR 20% if you earn less

43 or 22 a month basically
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My pay is €100,000 annually.
I see an update from Revenue that they have added the income continuance credit.

When I click on "Manage taxes in current year", I see a different tax credits such as:
Employee tax credit: €2000.
Personal Tax Credit (shared): €4000.

The income continuance tax credit is showed as: €259.19. Would this knock off €43 a month?

The €259.19 doesn't make sense to me. Please help.
 
masterboy123 said:
Just to say the Revenue online account didn't accept my policy of €1300 annual and asked to submit the policy via "Enquiry".
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Either you didn't complete it correctly or there's something wrong with their 2025 interface.

I wouldn't rule out the latter, it's still impossible on ROS to see let alone save a copy of a CT1 Corporation Tax Return for accounting periods ending in 2024 even though the filing deadlines for companies with year end dates in January to March 2024 have already passed.

By the way €1,300 isn't remotely a large annual subscription sum for an income protection policy.
 
With Personal Income Protection you can get tax relief at your marginal rate on the premiums (up to 10% of income) you pay.

With Executive Income Protection the premiums are paid for by the employer and qualify as business expenses that can be offset against corporation tax.

Gerard

www.execution-only.ie
 
T McGibney said:
Either you didn't complete it correctly or there's something wrong with their 2025 interface.
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There was a clear message in the lines that: that the policy exceeds the value and should submit a copy of policy highlighting the amount through Enquiries.

When I put in €400 for a quick check, the system did accept it through but I didn't confirm this submission.
 
Doesn't sound right.
 
T McGibney said:
Source?
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My wife has a premium above €1,000 and needed to upload the certificate.

I have a premium below €1,000 and did not need to provide a certificate, just the provider.

I assume the threshold for having to provide the proof of policy is in or around €1,000.
 
Last edited:
You've now edited your post to correct your earlier mistake so my point is moot.
 
T McGibney said:
You've now edited your post to correct your earlier mistake so my point is moot.
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I’ve edited it because even intelligent posters such as yourself misunderstood it

By “threshold” I mean and meant the boundary where Revenue ask for proof of the existence of the policy.
 
T McGibney said:
I can't recall any of my clients having their claim for this relief withheld awaiting documentation.
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My wife is PAYE and she was asked to supply proof of policy via my enquiries. I think this was 2 January and she sent off the pdf.

She had a payroll run earlier this week and her credits and SRCOP weren’t updated in her payslip.

I will ask her to check if this has been rectified.
 
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