Back to School Expenses
How much does it cost to send a child back to school?
Last week, Barnardos Children’s Charity released the results of a survey about the back to school expenses and their requests for the 2023 Budget on school uniforms, books and more. According to the children’s charity, “The cost of equipping children for the return to school is leaving thousands of families financially stretched.”
For example, the average amount for equipping a fourth-class pupil for the return to school would cost €424. A first-year student doubles in costs with the standard expense coming in at €814 per student. If you have a child beginning their two-year leaving certificate cycle, it will require an average spending of €722. This pricing also excludes the ‘voluntary contributions’ to the school throughout the year, increasing the spending depending on whether or not you take part in these schemes.
According to their survey, one third of parents said the rise in costs has made it slightly more difficult financially to send children back to school.
“Parents have told us that their children’s back-to-school costs are placing considerable financial pressure on them, particularly as a result of rapid cost-of-living increases.”
Use your tax back to cover the costs.
With the cost of sending children back to school on the rise, along with other living costs, it is now more important than ever to ensure you have claimed any outstanding tax that you may have overpaid throughout the past 4 years. Almost 500,000 PAYE workers have paid €600 too much to the taxman accumulating a total of €620m being overpaid to Revenue in the last three years. A typical taxpayer may be missing out on an average of €1,000 in tax refunds from Revenue.
At Irish Tax Rebates, our average rebate for our clients is €1,092 which would go a long way towards sending your child back to school. We can check if you are entitled to refunds on income tax, USC, medical expenses, flat rate expenses, employment expenses, work-from-home credits, marriage & family tax credits. To apply for your tax rebate for the past four years, fill out our 60 second online form here.