Tax rates?

Plug

Well lads Im gone up to a second year apprentice and the girl in the office said my wages will be €293 per week but from now on you will be taxed. Anyone have an idea what the tax rate would be on this? 20% maybe?
Thanks in advance.

Tails142

You will almost definetly have tax credits. If you're like me, you will have the following credits, Personal Tax Credit €1830 and PAYE Tax Credit €1830. This adds up to a total annual tax credit of €3660.

This is divided up weekly and means every week you have a tax credit of €70.39

You say you're getting paid €293 per week.

Your gross tax bill is 20% of €293 = €58.60

As you have more tax credits than your bill it means you wont be paying any tax.

If for example you were earning double what you do now, say €600

20% of €600 = €120

In this case you would have to pay 120 - 70.39 = €49.61

So your grand, the girl in the office probably meant something else by it, maybe she meant you have to pay the 1% government levy after christmas, so you'll be paying 2.93 euro a week

Plug

Tails142 wrote: »

You will almost definetly have tax credits. If you're like me, you will have the following credits, Personal Tax Credit €1830 and PAYE Tax Credit €1830. This adds up to a total annual tax credit of €3660.

This is divided up weekly and means every week you have a tax credit of €70.39

You say you're getting paid €293 per week.

Your gross tax bill is 20% of €293 = €58.60

As you have more tax credits than your bill it means you wont be paying any tax.

If for example you were earning double what you do now, say €600

20% of €600 = €120

In this case you would have to pay 120 - 70.39 = €49.61

So your grand, the girl in the office probably meant something else by it, maybe she meant you have to pay the 1% government levy after christmas, so you'll be paying 2.93 euro a week

lovely stuff, thats a million;)