Income Tax - Medical Insurance.

Tax Relief - Medical Insurance

Tax relief at the standard (low) rate of tax is available on amounts that you pay to medical insurance bodies such as the VHI or BUPA.

From 6 April 2001, tax relief for medical insurance contributions is granted at source. This means the premium you pay is automatically reduced by the amount of the tax relief.

Prior to 6 April 2001, relief was granted on premiums you paid in the preceding tax year.


Example: John's total Euro subscription to the VHI is €500, due on the 5th March 2007. John will receive a tax credit for the tax year 2007 of €100 (€500 x 20%, being his subscription paid during the tax year relieved at the standard rate of tax). His fee of €500 to the VHI for 2007 will be reduced by this amount, €100, and he will only actually pay €400. If his employer pays this fee for him, he is liable to income tax as a "benefit-in-kind".

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Back to Calculate My Tax: 2000/2001
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