Revenue Note for Guidance
(1) A repayment of income tax to which a person is entitled after the granting of any personal tax credit/relief for any year of assessment is to be made at the standard rate of tax or the higher rate, as appropriate.
(2) & (3) Where a person proves that he/she had no taxable income for a year of assessment because of his/her entitlement to any tax credit, deduction or relief for that year, any tax paid by him/her in respect of his/her income for that year is refundable in full. However, any such repayment cannot exceed the difference between the correct tax liability and the amount of tax actually paid.
Relevant Date: Finance Act 2021