Medical expenses and not working

[Marykate]

Dear all,

Hoping I can get some advice here. I am paying 41% tax and have to claim back medical and dental expenses going back 4 years (I know there is a 4 year limit on how far back one can claim).
I am also undergoing some orthodontic treatment which is costing the the best part of E6,000.
I expect to be made redundant soon. I've got a letter and the Med2 form from my dentist for about half of the dental expenses (not yet submitted to the Revenue) but have not yet paid for the other half as my treatment is not yet finished.

If I ask the dentist to invoice me and I pay for the rest of the treatment, can I claim it all back at once in one year?

Also does it matter if I am working or not, that is if I am not working by the time I pay for the rest of my dental treatment and submit the Med2 form, will I only get tax back at 21%, or not at all?

I am hoping someone knows the answer to these questions as I am not sure myself of what is the best approach to take
Many thanks in advance.

 

[ClubMan]

If you pay tax at all in the tax year then you can submit the MED1/2 claims for tax relief on qualifying expenses. It doesn't matter if you become unemployed. You will get tax back at your marginal rate - i.e. if you have paid any tax at 41% then you will get that back. If the expenses exceed the amount of 41% tax paid then the rest will be at 20%. And so on. In short - just keep your receipts, get your MED2 form completed and submit your claims at the end of the year.

Also - if/when you become unemployed you may be entitled to reclaim some tax back via a Form P50 claim form. See www.revenue.ie.

 

[Marykate]

That's great news. I'm very relieved. Many thanks Clubman