New rules in the recently passed Irish Finance Act have placed a time limit on applications made for the claiming back of overpaid tax.
The changes mean that claims for overpayment of tax must be made within four years of the tax year to which they refer. Under transitional regulations, taxpayers must make repayment claims to the Revenue Commission for overpaid tax in the tax years 1995/5 through to 1999/00 (inclusive) on or before December 31, 2004. For the 2000/01 tax year, claims must be submitted before April 5, 2005.
Repayments can cover a range of levies and expenses, such as employees who have been placed on emergency tax, incorrect deductions and medical expenses which can be claimed at the top 42% rate. However, it is thought that large numbers of taxpayers do not claim back medical expenses to which they are entitled.
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