Although Budget 2012 may not have provided much in the way of future reliefs for taxpayers the good news is that people still have an opportunity to claim the tax refund due to them for prvious years. This is according to leading tax specialists www.taxback.com who say that there is still a long list of tax reliefs available to people that could result in savings of hundreds of euro but many of these go unclaimed every year either due to a lack of awareness or unfortunately the apathetic nature of some people.
According to Christine Keily tax expert with www.taxback.com, “As we are thrown head first into another austerity budget all we can do is try to find some light in the darkness. We believe one of the most important issues for people to be aware of is that an individual can claim a refund of tax credits for prior years, as far back as 2008. Our average PAYE tax refund in 2011 was €840 - now more than ever people need this money. We are urging the people of Westmeath to begin 2012 on the right financial footing and to claim tax refunds for 2011 and previous years.” Taxback.com say that a lot of people still find filing a tax return confusing or complicated, resulting in them paying more tax than is necessary and losing out on entitlements. Revenue has made attempts to educate taxpayers as to their entitlements regarding tax credits and reliefs, however, despite this they believe that there are still millions of euro going unclaimed each year.