Finance Act Updates

The recent Act provides for the introduction of a 4 year time limit for claiming PRSI refunds. This applies where PRSI was mistakenly paid on maintenance payments and pension contributions. The new time limit applies to PRSI refunds and does not apply to Health Levy refunds which an individual may be entitled to claim (eg where an employee paid the Health Levy at some stage during the year but their reckonable income does not exceed €26,000).