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Published 11:18 1 Aug 2024 BST
Updated 12:31 1 Aug 2024 BST
Add us as a preferred source on Google »This is a tax relief designed to cover the cost of expenses incurred in a profession.
This relief is available to a list of more than 200 jobs, but remains largely unclaimed, leaving potential savings on the table for thousands of eligible people.
Flat rate expenses are pre-determined amounts set out by Revenue for workers in certain professions to be deducted from their taxable income.
These expenses are intended to cover the cost of tools, uniforms, and other necessary work-related things that employees typically have to pay for out of their own pocket.
The specific amount varies by profession and reflects the typical costs associated with each role.
A vast array of professions are eligible to claim these expenses.
Here are some examples:
These amounts can make a significant difference, especially over several years, yet many workers are not taking advantage of this tax relief. You can check the full list of professions here.
Claiming flat rate expenses is straightforward enough. If you are eligible, you can apply for through your Revenue account online.
Here’s a simple guide:
Despite the simplicity of claiming, a significant number of eligible workers do not apply for this relief.
This is down to either a lack of awareness or misunderstanding of the eligibility criteria.
This oversight means that many people are paying more tax than they need to.
So, if you’re in a profession that incurs regular expenses, it’s worth checking if you can claim these expenses and reduce your taxable income.
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