REVEALED: The Tax Loophole That Could Save You A LOT Of Moola

The majority of PAYE workers in Ireland are oblivious to a tax loophole that could save them hundreds of euros every year. The latest report shows two thirds of us do not know about Flat Rate Expenses, a type of tax relief available to people working in certain trades and professions. Unusually, thanks to a rather dated law, the amount that can be claimed depends on the nature of your work. According to Taxback.com, standard flat rate expense allowances are set by Revenue for various classes of employee, for example, shop workers are granted flat rate expenses of €121 per year and bar trade employees get €97 per annum. Nurses who supply and launder their own uniforms can claim a deduction of €733, while driving instructors are entitled to €121. Deductions are also available to doctors, engineers, plumbers, journalists, teachers, waiters, porters, while people who play in the RTE Symphony Orchestra are entitled to a whopping deduction of €2,476. The expenses were claimed by just 571,000 people (one third of the PAYE workforce) in 2013 at a total cost of €70.9million. So how do I find out if I'm missing out? It’s important to note that you don’t automatically get the flat rate expense tax deduction; you have to claim it by contacting the Revenue and asking about the FRE allowance. Once you confirm you are in a type of qualifying employment you can get it and the good news is that the expenses can be claimed retrospectively for up to four years.