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Tax & Payslip Query

  • 27-10-2008 8:15pm
    #1
    storka
    Registered Users, Registered Users 2 Posts: 239 ✭✭


    Hey all just looking for some advice on understanding my payslip! Just got my first pay in my first job out of college and haven't worked at all this year.

    My understanding was that I shouldn't have to pay any tax (other than PRSI) this year seeing as my total income this year (Oct-Dec) would be well below the amount over which you pay tax.

    But I got my first payslip last week and I paid tax. I shouldn't be emergency taxed as I gave my P45 in weeks ago but this was a P45 from last year so maybe thats the problem as they dont know my tax status for this year.

    Also it says tax code W, whats this mean and beside it BIK YTD which I doscovered means Benefit In Kind Year To Date but I'm not getting any BIKs?!

    Any help would be much appreciated!!


Comments

  • #2
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    You are on emergency tax (or... there's another tax code similar to emergency tax, I can't remember what it's called, but it is like emergency tax only less severe) as your employer does not know anything about how much tax you paid this year (giving them a P45 from last year is pointless.)

    Ring the revenue office tomorrow, explain your situation and ask them for your tax credits. They will give you them over the phone, and provide you with the figures you can give your employer. They will also update your record over the phone.

    You should then get the tax back in next months pay. You want to do this ASAP as if this drags out into the new year you will have to claim back your tax using a P21 balancing statement.


  • #3
    hannahmum
    Registered Users, Registered Users 2 Posts: 36 ✭hannahmum


    Hi,

    W means you are on a Week one basis. This means that you will pay tax at the same rate every week till they get an update from the tax office on your earnings this year to date. In fairness they could have also put you on emergency tax, which would have been wprse. The sooner you get on to the tax office- the sooner you will get the tax back. Your employer has prob sent back the portion of your P45 to them, but they are under no obligation to chase it up with the tax office- this is down to you. Ask your employer for their employer number- call the tax office and tell them who you are now working for etc and they will update your employer within a week or so.


  • #4
    Mr Clonfadda
    Registered Users, Registered Users 2 Posts: 372 ✭✭Mr Clonfadda


    Last poster has it spot on. You will need to hound tax office though as the nearer you get to the year end the less likely it is that they will get it sorted before the end of the tax year, as they are starting to get ready for next year. Also if you haven't worked this year means that the tax office will refer your case to Social Welfare for checking on any benefits you may have received during the year. This can take up to six weeks might take longer now with the large increase in unemployed.
    If you stay on (W)week one basis until the end of year you can drop into tax office with your P60 and get refund of tax from them directly.


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