Taxes Consolidation Act 1997 section 458

Deductions allowed in ascertaining taxable income and provisions relating to reductions in tax

Section 458 lists the deductions from total income and the tax credits available to individuals when computing their income tax liability.

• An individual who makes a claim and files a return of total income is entitled to deduct specified amounts from total income (Part 1 of the Table to the section) in arriving at taxable income, and to have income tax reduced by specified tax credits (Part 2 of the Table).
• Where an individual is entitled to a tax credit under Part 2, that credit reduces the tax chargeable — but only to the lesser of the amount of the credit or the amount needed to reduce the tax to nil; the credit cannot generate a repayment in its own right.
• The requirement to file a return of total income does not apply to PAYE taxpayers making claims for deductions or repayments through the PAYE system, unless Revenue directs otherwise; self-assessed individuals must still file a return.
• All claims for deductions, tax credits, and reductions in tax must be made in accordance with section 459(3) and (4) and paragraph 8 of Schedule 28.