Income protection – tax relief
Income protection – tax relief
Premiums paid under a permanent health insurance scheme ( also known as income protection ) are allowed as deduction for income tax purpose. The amount on which relief is granted cannot exceed 10% of your total income.
Where contributions to a qualifying scheme are not deducted from your salary through payroll, the relief will have to be claimed directly from Revenue. In this situation the relief is given by means of an adjustment to your Tax Credit Certificate.
If relief is not given by your employer through a “Net Pay Arrangement”, you can claim this relief using PAYE Anytime service on www.revenue.ie – PAYE Anytime.
Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie