Tax relief on health insurance

R

Roy2004

Guest
Hi all,

I have a query on health insurance you may be able to assist with. I'm a PAYE worker and my company pays my health insurance (VHI or BUPA). Since the BIK rules were changes I receive the cost of the insurance as additional pay in my wages each month.

I know that VHI/BUPA deduct 20% tax relief at source, but a few people have mentioned that I must also inform the revenue in order to receive tax relief. Is this correct. What additional tax relief would they be referring and how would I know if I am receiving it correctly?

Many thanks,

Roy
 
Roy,

You are entitled to a "Health Insurance Paid" tax credit. If it is not shown on your certificate of tax credits you can ring Revenue and quote the GROSS premium your employer pays on your behalf. They will then grant you a tax credit of 20% of this amount.

Regards,

Obi wan
 
No, you don't need to do it anymore as it is granted at source. Last month, I checked with my HR manager if I needed to declare it as benefit in kind he told me that no it is done automatically and the tax relief is calculated as well in my payslip. Hope he is correct !!!
 
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