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Finance Act 2024 tax credits guidance updated

Dec 16, 2024

Revenue has updated several Tax and Duty Manuals (TDMs) following amendments introduced by Finance Act 2024.

The updated manuals are as follows:

  • Sea-Going Naval Personnel Tax Credit has been extended to the 2029 year of assessment.
  • Incapacitated Child Tax Credit has been increased to €3,800, from €3,500, with effect from 1 January 2025.
  • Employee (PAYE) Tax Credit has been increased to €2,000, from €1,875 for 2025 and subsequent years.
  • Earned Income Tax Credit has been increased to €2,000, from €1,875 for 2025 and subsequent years.

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