Many of you may know that tax relief is granted at source for medical insurance (such as VHI and Laya). This means that the amount you pay your insurance provider has already taken tax relief into account.
If you pay for medical insurance as a deduction from your wages this should also take the tax relief into account.
However, if your employer pays all or part of your medical insurance premium, you do not automatically get tax relief. The good news is that you can claim this tax back.
All you need to do is log in to MyAccount and give the following details:
- the date the policy started
- who is covered on the policy and their ages
- a breakdown of the cost of the policy for each person
- the amount paid by your employer.
Remember the 4 year time limit – a claim for tax relief must be made within 4 years after the end of the tax year to which the claim relates.