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split tax credits between employers

  • 21-06-2007 8:00pm
    #1
    flodis79
    Registered Users, Registered Users 2 Posts: 1,820 ✭✭✭


    Up until March I had one parttime employment but put all my tax credits in that employment. Since that I entered another parttime employment but forgot to assign some of the tax credits over to the new employment, so I had to pay emergency tax the first month. I haven't found a way to enter different employers on the revenue advanced services, so do I have to go to the tax office over this?

    If I have about 400 euro to get back from the tax office, how many tax credits does this correspond to - so I have a rough idea about how many tax credits have to transfer to my new employment?


Comments

  • #2
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    I did this with the taxman over the phone a few years ago. They advised splitting my tax credits based on the different salaries.

    You probably will end up paying a little extra tax than you should when you are in this type of situation. Just request a balancing statement at the end of the year, and you will be refunded.


  • #3
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    As dudara suggests the typical approach is to get the revenue to issue new certificates of tax credits to each employer dividing the credits.

    The problem you have now is that your tax credits are all with one job and your other job is taxing you at emergency rates which are based on under-taxing most people to begin with to give them a chance to get their credits in order. This means that you may actually have under-paid tax on your second job and may owe the revenue tax as opposed to the other way around. Obviously if you are working two low-paid jobs maybe it'll balance up the other way.


  • #4
    flodis79
    Registered Users, Registered Users 2 Posts: 1,820 ✭✭✭flodis79


    leeroybrown wrote:
    As dudara suggests the typical approach is to get the revenue to issue new certificates of tax credits to each employer dividing the credits.

    The problem you have now is that your tax credits are all with one job and your other job is taxing you at emergency rates which are based on under-taxing most people to begin with to give them a chance to get their credits in order. This means that you may actually have under-paid tax on your second job and may owe the revenue tax as opposed to the other way around. Obviously if you are working two low-paid jobs maybe it'll balance up the other way.

    Thanks for this information - very useful. So if I had a job from September to April with my second employer and paid 400 euro in tax, should I then divert 400 tax credits over to my second employment? Is it as easy as that? Will I get the money towards year end or when the new information has reached Revenue?


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