Revenue eBrief No. 337/24
31 December 2024
Parts 15 Tax Credits and Part 42 Finance Act 2024 Updates
The following Tax and Duty Manuals (TDMs) have been updated to reflect an increase in the value of the credits, as provided for by Finance Act 2024:
- TDM Part 15-01-27 - Dependent Relative Tax Credit - has been updated to reflect that from 1 January 2025 the value of the credit will increase to €305, and the "specified amount" will increase to €18,028.
- TDM Part 15-01-29 – Home Carers Tax Credit - has been updated to reflect that from 1 January 2025 the value of the credit amounts to €1,950. Examples throughout the TDM have been updated to reflect the increase to the credit and a new paragraph 8 has been included to provide guidance on how to make a claim.
- TDM Part 15-01-31 - Blind Person's Tax Credit - has been updated to reflect that from 1 January 2025 the value of the credit amounts to €1,950 per qualifying individual. In addition, the following paragraphs have been added to the manual:
- Paragraph 2 - Conditions to qualify for the Blind Person’s Tax Credit
- Paragraph 3 - Value of the Credit
- Paragraph 4 - How to Claim the Credit
- Paragraph 5 - Other tax credits and allowances
- TDM Part 15-01-41 - Single Person Child Carer Credit - has been updated to reflect that from 1 January 2025 the value of the credit amounts to €1,900. Paragraph 9 of the manual has also been updated to provide additional guidance on how to claim the credit.
- TDM Part 42-04-24a - PAYE/USC Regulations - Emergency Tax has been updated to reflect the increase in tax rates and tax bands for 2025 as provided for by the Finance Act 2024.