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