Free Irish iPhone App that saves you money

Red Oak Tax Refunds launch Red Oak Snap, the iPhone app that records & secures your medical & rental expense receipts in a photo, ensuring you don’t overpay tax and can correctly claim tax refunds.

Most Irish taxpayers are aware that you can reclaim tax refunds for medical expenses such as doctors visits and prescriptions.  However in many cases receipts can be lost or misplaced.  In cases where receipts are kept, it usually involves spending a few hours at the end of the year collecting and totting up  the amounts.

“For every €50 spent on a visit to a doctor, an Irish income tax payer is due a tax refund of €10.  We estimate that millions of euro of tax refunds go unclaimed each year due to lost or mislaid expense receipts” said Red Oak Tax Refunds Head of Tax Grainne Lyng.

In the most recent published information from Revenue, over €260m of tax was refunded to taxpayers in Ireland for medical expenses.

“Based on our experiences, we believe there are 10’s of millions more in tax refunds unclaimed” according to  Red Oak CEO John O’Connor.  “The main reasons tax refunds for medical expenses go unclaimed are lost and misplaced expense receipts and  lack of knowledge of the Tax System”

Red Oak Snap, which can be found at www.redoak.ie,  has also been built with landlords in mind.  Landlords can record their rental expense receipts as photos within the app with enough information for their rental income tax returns.

Revenue have indicated that electronic receipts may be stored in electronic format in guidance issued to the Institute of Chartered Accountants in Ireland in 2010.

Based in Carlow, Red Oak Tax Refunds has helped over 10,000 taxpayers get tax rebates in recent years.  Red Oak Snap is a free service available to all taxpayers in Ireland and is available on iPhone and iTouch.

Watch this video to see how it works

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