Many families are losing €410/year because they are failing to make a tax reclaim to the Revenue Commissioners.

Each year Revenue takes in over €500 million more than it is entitled to from the country’s tax payers and the responsibility lies with individuals to reclaim the overpaid taxes. On average taxpayers are entitled to €410 in overpaid taxes for each of the preceding four tax years, mounting up to a possible reclaim of €1640.

PAYE workers are less likely to claim their full tax free entitlement and the most common areas where they fail to secure tax relief are education fees, medical expenses and nursing home fees.

Other categories where ordinary tax payers are making substantial overpayments include tax credits for caring for older people and children or where a person has not worked for a full 52 weeks in the year.

“With the huge costs associated with children returning to school many families are really struggling to make ends meet. Particularly those who have to pay for everything but are entitled to nothing,” stated Denis Naughten.

There are many other areas where individuals and families could save significant amounts of money. They should log on to www.PuttingPeopleFirst.ie where they can access an information leaflet on tax refunds and other savings.