Tax questions

cwynnes

Hey ppl,

I just have a couple of questions about my tax, i hope someone can help as i only have the basic knowledge about tax,
Iv been in my new job for the last 5 weeks, at the start i was charged emergency tax because my previous employers hadnt bothered ask the revenue about my tax credits....so that went on for a few weeks and then in the last 2 weeks i was taken off emergency tax and put on to "week 1" tax.....which basically meant that i had no tax free alowance and was taxed on every penny i earned....does anyone know why i was put in this bracket and the best way of getting that money back?
Now this week i just got my payslip and my tax credits were finally transferred...but my tax status is still week 1...how do i get out of this bracket and be taxed normally?

1 more question and ill leave you all alone...it says on my tax cert that "this employment tax credit certificate was issued on a week 1 month 1 basis"....any ideas what it really means when its translated into english?

Kimbot

Get your P45 sent in from your last employer!! Then ring revenue and ask them to issue your tax credit form, as soon as that gets to youe new job your wages will be grand and you get a nice lump sum.

cwynnes

Even though they have a P45 from another employer of mine? (the ones that didnt bother look for me tax credits)....i dont mind...as long as i get me money back .....thanks for the help

Elessar

Ok here's the deal (I work in the tax office):

Week 1 means that you are deducted tax on a week by week basis, instead of cumulatively, over the year. When on cumulative tax, you pay it based on your tax credits and standard rate cut off point (which is €32000) which is taken cumulatively as the weeks go on. So for instance if you only started working in the last few weeks and were not working previously this year, your tax credits would have built up cumulatively and you would be able to earn a lot of money without paying any tax (tax credits are what you can earn tax free).

It's a bit complicated but basically you were put on week 1 for one of two reasons: There was a gap in your employments (i.e. the tax office dont know what you were doing previous to your new job) or there were no pay and tax details entered into the sytesm for your previous employment.

If the case is the former, ring the tax office and tell them what you were doing. If it's the latter, get your P45 off your last employer and send it to your new job. They'll send it in.

Month 1 is the same as week 1 only monthly.

Hope this helps.