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Revenue online question

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  • 03-07-2015 10:18pm
    #1
    Tazzimus
    Registered Users Posts: 3,935 ✭✭✭


    I'll try explain this as best I can.

    Currently working as a contractor and recently switched from a paye umbrella solution to a director solution.
    Getting mauled every month on tax so decided to have a look on paye anytime.

    It has me down as having two forms of employment:
    Main is my old paye umbrella set up and other employment is the director solution I'm on now.

    Does that mean I'm paying more tax cos they see me as having two jobs or is it just the way their system displays it?

    I'm absolutely hopeless with taxation so hopefully someone can shed a bit of light on it, have a screenshot with company names etc blacked out if needed/allowed.

    Cheers


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    #2
    chickenlicken2
    Registered Users Posts: 171 ✭✭chickenlicken2


    You would have received a P45 from Company A (umbrella ) and you were then hired by Company B as a director.

    It's the way the system displays it that both employments show on it. I believe it shows any employments held for that tax year.
    If you look on PAYE Anytime it should have a ceased date at the Company A employment. Check to make sure none of your credits SRCOP or USC cut off point are applied to Company A. This can sometimes happen. Ring Revenue to update if it's not correct.

    You aren't entitled to a PAYE tax credit as a director, however if you have €8250 (1650 credit/.2) of PAYE (non director) income in a year you can retain it.
    Just check to see if Revenue have removed the credit this year. If they have and you have sufficient income as above to shelter it ring and get them to reinstate for this year. If you are continuing as a director next year, ensure that it's removed in your 2016 tax credit certificate.

    As a contractor there are a variety of expenses that can be deducted from your invoice and then paid as an expense so you obtain tax relief on them
    You should ring the company providing the contracting company service and ask them about this.


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