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Posted by / 22-Jan-2016 11:05

For example, if a teacher was to get a tax credit of €518 a year, they would pay €518 less in tax that year.

PAYE employees, as well as company directors, can also benefit from tax-free expenses or subsistence rates, up to a certain limit unvouched, when they travel for work, either at home or abroad.This means that, regardless of how big the relief might be, it won’t be any good to you.If you have never claimed relief for a flat-rate expense, you could be in line for a little windfall by doing so now.And a further quirk of a tax relief is that if your income isn’t high enough to pay tax, the relief won’t be any good to you.If, for example, you earn less than €16,500 a year, you will only be liable for the universal social charge, and not income tax.

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