Medical Insurance Tax query

[boomboom4780]

Hi all,

My query is that my employer pays my VHI medical insurance in full. Both myself and the wife are on my policy. The overall policy for both of us comes to a total of €2,400. I pay benefit in kind on it.

For 2014, I was entitled to claim a tax credit of a maximum €2000 divided by 20% = a tax credit relief of €400.

There was a change made in Budget 2015 that meant the mamimum tax relief was reduced ( from the middle of October 2014 onwards ) to €1000 divided by 20% = a tax credit relief of €200.

My question is, am I only entitled to a tax credit relief of €200 now ( which is showing up on my latest tax credit cert on my Revenue PAYE ) or am I still entitled to receive a tax credit relief of €400 as I have 2 adults on my policy?

So basically is there a relief of up to €200 for each adult or is it now simply a case of a maximum relief of €200 regardless of how many adults or children are on my policy?

Any help on this would be greatly appreciated. I have checked Revenue website and it is unclear regarding what relief is available for more than 1 person on a policy.

Cheers, BB

 

[amoreno]

have a look at this :http://www.askaboutmoney.com/threads/healthcare-benefit-in-kind.191824/.

You need to tell the Revenue you have dependants in your policy. Otherwise by default they only apply relieve for one (single) or two (married) adults.

 

[Nutso]

If you have not received this relief in prior years, how do you go about claiming back? The person in question is self-employed and a director of the company on payroll, where the company pays his medical insurance. He recently received a new P2C with the relief on it, but did not have it in previous years.