Tax Credits & Reliefs >> Personal Tax Credits- Reliefs and Exemptions

Tags: tax credits, tax reliefs, tax exemptions

There are numerous tax credits and tax claims which often get overlooked. We have divided these into three different categories as follows:

Personal Tax Credits

Allowed at the 20% tax rate as a credit against your income tax liability. 

  • Home Carer’s Tax Credit
  • Mortgage / Loan Interest
  • Private Rented Accommodation
  • Medical Insurance Policies
  • Trade Union Subscriptions
  • Home Service Charges
  • Tuition Fees & Training Courses
  • Incapacitated Child
  • Age Credit
  • Blind Tax Credits
  • Revenue Job Assist
  • Care of Incapacitated Individual
  • Dependent Relative Credit
  • Seafarer’s Credit
  • Medical Expenses from 2009 (apart from Nursing Home costs)

Personal Tax Reliefs

Allowed as a deduction in calculating your taxable income, which means they are more valuable in terms of tax saved for top rate tax payers.

  • Health / Medical Expenses Relief up to years 2008 & in respect of Nursing Home costs only for year 2009.
  • Contributions to Pension Scheme
  • Revenue Approved Permanent Health Benefit Schemes (PHI)
  • Tax Reliefs for Share Investments (BES / Film Investment Relief)
  • Donations / Deeds of Covenant

Personal Tax Exemptions

There are not many of these around but we explain the most common ones.

  • Income Exemptions & Marginal Relief
  • Child Minding Services in your home
  • RentaRoom Relief Tax Free Income
  • Leasing Farm Land
  • Foreign Service Allowances for Employees of Government Agencies

Expert Tax Library

Age 65 and Over

PAYE Taxpayers

Tax Credits & Reliefs