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Home » Employee Wellbeing » Ways tax experts can help take care of your income

Gerry Scully

Accountant, Irish Tax Rebates

Shauna Mackey

Marketing Manager, Irish Tax Rebates

Using a tax expert can be a quick and easy way for taxpayers to claim the tax credits they’re entitled to and apply for possible rebates.

Many taxpayers could be missing out on tax credits that can help reduce their income tax and boost their take-home pay. Getting a tax expert to review your taxes could help you claim relevant credits and get the most from your earnings, recommends Gerry Scully, an accountant at Irish Tax Rebates. “What people need to recognise is that you have to maximise what you’re bringing into your house,” Scully says. “It pays to have an expert to check what tax refunds you can claim.”

Reducing income tax with tax credits

A tax credit reduces the amount of income tax owed, meaning taxpayers can take home more earnings per month. “There are over 30 types of credits out there, and not everyone’s aware of them because they can change regularly,” Scully says. Some credits, for example, allow taxpayers to get reductions for medical expenses or for financially supporting a relative in Ireland or abroad.

“People may have heard of some of these tax credits but aren’t sure what to do,” Shauna Mackey, marketing manager at Irish Tax Rebates says. “We sort that all for them. We know what paperwork is required and how to maximise what you’re entitled to.”

There are over 30 types of credits out
there, and not everyone’s aware of
them because they can change regularly.

Tax-free bonuses

Taxpayers can get more for their money by receiving a voucher as an end-of-year bonus instead of cash. Vouchers are now tax-free up to €1,000, which increased from €500 in October this year. “You can get €1,000 for almost whatever and wherever you want, whereas if your employer gives you €1,000 as a cash bonus, Revenue will tax you up to 52%,” Scully explains. Nowadays, hundreds of places accept vouchers from supermarkets to fashion brands, allowing you to “tailor your voucher to suit your needs,” he adds.

Tax relief for working from home

The Working From Home tax relief can help taxpayers manage the rising costs of light and heat. “Previously, you could claim 10% on your lighting and heating bills and 30% on your broadband, but now you can claim 30% on all three bills based on the number of days you worked from home in that year,” Mackey says. As well as the increased tax relief, the “opportunity for employees to work from home is so advantageous as it cuts their commute and commuting expenses — and provides a better work-life balance.”

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