Revenue has received a number of claims for repayment of tax, for individuals who are affected by the High Income Earners Restriction, based on a misunderstanding of the order of offset of reliefs for individuals. Revenue has also identified a number of taxpayers who did not complete the Form RR1, based on the same misunderstanding.
In order to assist staff in dealing with these cases, Revenue has now issued a manual, Part 15-02a-06 (PDF, 247KB), which outlines how the four main reliefs claimed by High Income Earner Individuals interact: Case V capital allowances, Case V losses, Case I / II capital allowances and Case I / II losses. Similar principles can be applied in order to determine whether other reliefs are claimed before or after these reliefs.
The Manual is on the Revenue website at: Tax Practitioners > Taxes & Duties > Tax and Duty Manual > Income Tax, Capital Gains Tax and Corporation Tax > Part 15 > Part 15-02a-06.pdf.