1. Tax Awareness for Irish Stable Staff Stephen Curtis May 2016 Stephen Curtis & Co. Accounting Solutions

2. Taxing Made Simple Top 5 Unclaimed Tax Credits What are you entitled to claim How do you update your tax credits Stephen Curtis & Co. Accounting Solutions

3. Top 5 Unclaimed Tax Credits & Reliefs More Money in YOUR POCKET Flat Rate Expenses Rent a Room Relief Medical Expenses Dental Expenses Rental Expense Stephen Curtis & Co. Accounting Solutions

4. What are you entitled to Claim Flat-Rate expense o Gr ooms (Racehorse Training) are allowed to claim €294 per annum unvouched for o Veterinary Nurses Obliged to supply and launder their own uniforms - €400 per annum Obliged to launder the uniforms supplied - €150 per annum How do you get this extra benefit…. Simply call your local Revenue office and get them to update your profile Under Revenue rules, you are allowed claim back overpaid taxes, as long as you do so within four years Stephen Curtis & Co. Accounting Solutions If previously unclaimed, you could be in for a windfall of €1,176 @20% for a cash rebate of €235 in your pocket

5. What are you entitled to Claim Health Expenses o You are entitled to tax back on expenses incurred not just by you and your immediate family, but also by some relatives, including parents, grandparents and siblings. Relief is give at 20% Rental Expense Credit o To claim, you must have been in rental accommodation on December 7th, 2010. Contact Revenue to avail of this credit Rent a Room Relief (extra tax free income) o If you let a room (or rooms) in your sole or main residence as residential accommodation, for sums of €12,000 or less, this will be treated as nil, and no tax, PRSI or USC is payable Cycle to Work Scheme o Usually your employer pays the supplier for the bicycle and sets up a ‘salary sacrifice’ arrangement from your salary over an agreed time frame (which cannot be more than 12 months). Minimum Tax saving of 31% Stephen Curtis & Co. Accounting Solutions

6. Appendix Revenue Contact Details Health and Dental Expenses Cycle to Work Scheme P21 Balancing Form About the Author Stephen Curtis & Co. Accounting Solutions

7. Revenue Contact Details Stephen Curtis & Co. Accounting Solutions

8. Health & Dental Expense Did you know that the quickest and easiest way to claim a refund on any health/medical expenses is via PAYE Anytime which can be accessed through your online account. Routine dental treatments such as extractions, fillings and scaling of teeth do not qualify for tax relief. However, the good news is that the more expensive procedures such as crowns, veneers, bridgework, root canal treatment, and treatment of dental irregularities are allowable and you can claim tax relief on these dentist costs. Simply submit a MED 2 form to revenue signed by your dentist Stephen Curtis & Co. Accounting Solutions Example John incurs €500 in medical expenses during 2015. John can therefore get back €1oo in Tax relief Use Form MED 1 or submit online in your PAYE Online Account

9. Cycle to Work Scheme Stephen Curtis & Co. Accounting Solutions You can only avail of this scheme once in a five-year period. A great way to stay healthy and also enjoy great tax relief on the purchase of a bicycle. Contact your employer for further details on this scheme

10. P21 Balancing Form A PAYE Balancing Statement (P21) is a statement of your total income from all sources for a particular year and gives a breakdown of your tax credits, income tax and Universal Social Charge (USC) paid during the tax year. You may wish to request a P21 if you think you have overpaid income tax and/or USC during the year, or if you wish to claim additional tax credits. This is free to request and is advisable to utilize yearly The quickest and easiest way to receive your P21 is by using PAYE Anytime Refunds of any overpaid taxes are usually refunded within 3 to 4 working days direct to your bank account if registered with Revenue Stephen Curtis & Co. Accounting Solutions

11. About the Author Stephen Curtis & Co. Accounting Solutions Having worked in the racing industry for many years, Stephen knows just how important your role is in making this industry so enjoyable for all. If you, or any of your colleagues would like further assistance in understanding or completing any of the material covered in this pack please do not hesitate to contact him. Stephen would happily assist any stable lad/lass with updating their personal tax credits with revenue for free. Stephen is a qualified accountant due to the kind support and encouragements from the Irish Jockey Trust. Stephen specialise’s principally in Business Reengineering, Cost efficiency implementation,financial management reporting and Accounting services. Sincerely, Stephen Curtis Email: stephen.curtis@scac.ie A special thank you to Shamela Hanley Photos for the kind permissions to reproduce her images