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quick Q

  • 22-08-2009 6:15am
    #1
    mayordenis
    Moderators, Education Moderators Posts: 9,673 Mod ✭✭✭✭


    my PRSI seems to have gona through the roof this month
    basically my overall wage went up 170 euro for the month (mostly shift differential and public holiday) and yet my tax went up 140 euro - I don't think my increase was enough to merit this 81% rate of tax.


Comments

  • #2
    misspiggy40
    Users Awaiting Email Confirmation Posts: 277 ✭✭misspiggy40


    That figure doesn't sound right. Even if you passed a threshold from from paying no prsi to paying some or if you went from 20% to 41% there shouldn't be such a big diff. However, it is hard to say without all the figures.

    If you would like to PM me your numbers I will do a quick recheck for you and print out the calculations. No prob if you prefer to keep them private.

    Also worth a check is that there was no other 'non tax' deductions that you forgot this month....maybe like uniform, clubs etc.

    Good luck.


  • #3
    namenotavailablE
    Registered Users, Registered Users 2 Posts: 59,723 ✭✭✭✭namenotavailablE


    my tax went up 140 euro

    Just to clarify, I'm guessing that your TOTAL tax related deductions (which consist of PAYE, PRSI and Health contribution) increased by €140.

    A possible reason is that your tax credits reduced- you may have received a letter from the tax office outlining a new tax credits value? This would result in a recomputation of your tax this month and a fairly hefty extra tax deduction. Another possibility is that your payroll office may have been using an incorrect value for your tax credits (ie they were using a figure which was too high since January) and are correcting the error in this payroll run.

    However, as MissPiggy suggests, you would need to provide details of tax credits/ cut-off point/year-to-date gross pay/ year-to-date tax paid etc in order to be able to confirm the accuracy of the calculation. If you want to check yourself, you could download my spreadsheet at taxcalc.eu/monthlyss and enter values yourself. PM me if you download it but can't figure out how to use it.

    Free Excel net pay calculator- https://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm



  • #4
    Up
    Closed Accounts Posts: 5 ✭Up


    Most likely this is due to the payroll software the employer is using which is on cumulative basis. If you have over paid taxes this month in next you should get it back.

    If your tax credits have changed this month compared to last month ie they have decreased for some reason then that might merit the increase in tax which has been backdated.


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