Income Tax Yearly Housekeeping (Especially Retirees) - Do Now and Save Yourself Some Anguish

L

Leper

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For a more relaxed year I suggest you act on your Revenue and Private Health Insurance now:-
1. If you are not registered with Revenue for MyAccount (online yearly income tax return) you can through the Revenue website. It’s fairly easy.
2. Contact your Private Health Insurance people and claim whatever Medical Expenses for which you are entitled. You can do this through their Apps or by asking for a form which is easily filled in.
3. Your Private Health Insurance will supply a statement of what is to be paid to you. The difference can be claimed through your Revenue Claim.
4. Gather your (non refundable by Private Health insurance). List them all and claim total amount through My Account (Revenue). You’ve got four years to do this, but do so yearly for a more relaxed life.
5. You don’t need P60’s anymore as the “fields” are usually pre loaded by Revenue already.
6. If you don’t upload your medical receipts to Revenue, you must keep them for six years as Revenue may wish to check your claim more closely.

The process is easier than you might think. Likely, it’s even easier than preparing your papers for a Tax Advisor. You must do your tax situation anyway - don’t put it on the long finger.
 
Leper said:
6. If you don’t upload your medical receipts to Revenue, you must keep them for six years as Revenue may wish to check your claim more closely.
Click to expand...

Is the receipt upload facility still available? I thought that they had discontinued it (but I'm a ROS customer).
 
Not sure about ROS, for MyAccount, it is called Receipt Tracker.

Your private health insurance may include dental but not all dental can be claimed. So if you are relying on the Private health insurance statement, you should exclude the ones that doesn't apply.
 
Marsupial said:
Is the receipt upload facility still available? I thought that they had discontinued it (but I'm a ROS customer).
Click to expand...
They had a dedicated app that they discontinued.

The Receipt Tracker is an absolute joke of a service e.g. WFH allowance you have 12 x Internet Bills, 6x Gas, 6x Electricity. You can upload 3 documents at a time max. You can do the snap and upload from your phone but only if you can adjust the photo settings to restrict the size to <3MB. All for c. €100. I aggregate three bills together but you would be broken even after doing that.
 
For those of us who find the annual declaration to Revenue (online) pretty concerning I suggest:-
1. Each month list your Medical Prescriptions. It's something that can easily be done and by the end of the year you have your Medical Credits done and ready for Revenue. Generally, this is the only figure you have to present. You can get a yearly summary at the end of the year from your chemist, OK if it suits you. But, I think you'll feel more easy by having everything ready for input to MyAccount (Revenue Online) come 1st January or later. A short spreadsheet would be suitable or otherwise just keep amounts manually (nothing wrong with pen and paper).
2. If you are not uploading copies of your Medical Claims remember you must keep them for six years (make it seven just for ease of mind).
3. Remember to adjust your bank details if necessary (don't assume Revenue know when you change banks).
4. Spend some time going through MyAccount online as there's lots of information there and keep learning.
5. Don't get confused about some of the complaints on previous posts - Remember you just have to do your own Income Tax Return and it's easier than you think.
6. Don't forget your Health Insurance supplier probably will have a refund for you too; so claim through VHI, Laya etc as soon as possible to avoid delays.
 
Leper said:
For those of us who find the annual declaration to Revenue (online) pretty concerning I suggest:-
1. Each month list your Medical Prescriptions. It's something that can easily be done and by the end of the year you have your Medical Credits done and ready for Revenue. Generally, this is the only figure you have to present. You can get a yearly summary at the end of the year from your chemist, OK if it suits you. But, I think you'll feel more easy by having everything ready for input to MyAccount (Revenue Online) come 1st January or later. A short spreadsheet would be suitable or otherwise just keep amounts manually (nothing wrong with pen and paper).
2. If you are not uploading copies of your Medical Claims remember you must keep them for six years (make it seven just for ease of mind).
3. Remember to adjust your bank details if necessary (don't assume Revenue know when you change banks).
4. Spend some time going through MyAccount online as there's lots of information there and keep learning.
5. Don't get confused about some of the complaints on previous posts - Remember you just have to do your own Income Tax Return and it's easier than you think.
6. Don't forget your Health Insurance supplier probably will have a refund for you too; so claim through VHI, Laya etc as soon as possible to avoid delays.
Click to expand...
I second this I put through my medical receipts as I get them with health insurer app. Laya very simple. I use android phone so use Microsoft lens app for taken the pictures. Very simple to use and when take the picture it looks like a proper scan of the receipt.

Takes about 2 mins each time. While I their I then log into myaccount revenue and upload the receipt to receipt tracker another 1 min .
I do the same when I get bills for work from home.

Which made my tax return this year only a few mins to complete and not digging around for misplaced receipts
 
Laya is really handy with the app, I do them instantly when I get them. Must start same with myaccount but it's only my first year using that so not up to date with it yet. I'm old school and actually still have a spending diary every year, not totally religiously kept like when I was younger and broker but all important receipts go in the back of it whether for medical or purchases so I filter them out at end of year and have them handy for returns.
 
Irish Life Health lets you download claims into an excel doc, so I use this and filter out the non tax relieved items. Pretty much all of tax relieved items go through my health insurance as I always claim immediately from them as soon as I have paid for anything. I haven't had to add receipts, is this new in 2023?

My main issue delaying my return is waiting for my last utility bill for remote working! Gas only comes every two months.
 
I take the easy path & hand all the paper over to someone else!

However I've a bad habit of leaving it late, so this years resolution is to get it done by Paddy's Day.
 
I still get the paper forms and take my time filling them in. Then I drop them in to my local tax office post box. I get my PAYE Balancing Statement within two weeks. (now called something else).

I know. I know.....but it's the way I like to do it.
 
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