Changes to the PAYE system being implemented by Revenue should make it easier for people to claim tax rebates, according to Taxback.com.
Revenue is abolishing the old P60 and P45 forms in order to introduce a more online focused regime where taxpayers can view deductions as they are made and make claims for rebates.
The P60 was a certificate detailing total pay and deductions including PAYE, PRSI and the Universal Social Charge. It is being replaced by an Employment Detail Summary which can be accessed online.
"Anything that improves and speeds up the process of taxpayers getting their entitlements is good news," Joanna Murphy, CEO of Taxback.com said.
"It's important to remember though that the onus of responsibility remains with the taxpayer, so it's necessary for them to be familiar with what entitlements are there in order to claim for them," she stated.
Just four out of ten taxpayers seek a rebate, according to the tax specialists, which means that 60% of taxpayers do not.
"Most people over-pay on their tax. On average, clients are due more than €1,000 and you can claim going back over four years."
The big ticket items when it comes to rebates include medical expenses, such as GP and consultant fees, where a 20% rebate can be claimed.
"One under-utilised area is nursing home care. If you have a parent in a nursing home, which can be very expensive, you could be entitled to a rebate up to the highest marginal rate of tax, which is 40%. Per annum, that could be worth between €10,000 and €20,000 per refund which is very substantial," Ms Murphy stated.
Outside of the medical area, people can claim rebates for working from home and there is also a home carer credit that can be availed of by those caring for a loved one in the home.
"Where you have a couple who are jointly assessed for tax, there's a €1,600 credit that they can apply to have refunded. That's substantial and it goes back four years," Joanna Murphy pointed out.
She said it was not necessary to keep receipts in order to get the rebates, but she said it was good practice to hold onto receipts in the event of an inspection.