Tax back on private consultant fees

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Jeidi Posts: 3128
Quick question. I'll be paying my consultant €2200. My friend told me I can claim back the tax on a med 3 from (am not 100% sure of that form). But is that tax claimed back at 20% or at 41%? Either would be great, but just wanted to know!
SaJa Posts: 4282
You can claim it back using a med 1 form. They will give you the repayment back based on what percentage of tax you are paying at the moment.
Jeidi Posts: 3128
[quote="SaJa":3rahb6zc]You can claim it back using a med 1 form. They will give you the repayment back based on what percentage of tax you are paying at the moment.[/quote:3rahb6zc] Have PMd you.. hope you dont mind!
wexfordbell Posts: 1065
When do you claim this back girls? I have to pay €2000 on next visit and balance then on final visit so do i apply now or when ive paid the balance. Also with BUPA do they pay hospital up front or do we send receipts off to them?
jarashow Posts: 3083
You can find more information here: http://www.revenue.ie/index.htm?/revgui ... penses.htm As far as I am aware you pay the balance that your health insurer doesn't pay when you leave the hospital.
Toots12 Posts: 894
you would pay your consultant upfront, in whatever installments you have agreed. Then, you do a tax return at the end of each year - i.e. submit a MED1 form, outlining all of your deductible health expenses for the year, and the revenue will pay you back whatever money is owed to you. The form is available on www.revenue.ie and there's a good helpsheet also which explains which expenses are tax-deductible. hope this helps!
Marpat Posts: 1784
Well explained Toots12! I was just about to jump in and give a full explanation of it but you've pretty much explained it. I'm a boring accountant so I do all thsi for a living!! MP
Jeidi Posts: 3128
Thanks everyone, its great having so many people in the know!
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