Too much tax paid?Worth checking?

Ginger83

Hi, my mate was wondering if it was worth his while asking the revenue to check to see if he overpaid his income tax. I mentioned to him that it could work both ways as I actually underpaid mine few years back.

Anyone able to do the maths?

Gross Income 31,200

Total Net Tax Deducted 2,579.72

He's a single guy with tax credits of 3,660.28 per year, standard cut off rate is 36,400.00

Thanks all.

McCruiskeen

It's spot on. Unlucky!!

john kinsella

Yup!

Get him to go onto revenue.ie and request a pin number in PAYE. Once they post out the pin he can log on and request a p21 balancing statement for the last 4 years. I just did it and got back 2.5k. Fcuking delighted!

Ginger83

Thanks for the replies, that was the info on his p60 for 2009. He asked cos he was let go in January and finding things tough.

I'm not sure if I should push him back four years, dont know what I'd say if he were landed with a bill.

How did ye work the sums out.

maddogcollins

Ginger83 wrote: »

Thanks for the replies, that was the info on his p60 for 2009. He asked cos he was let go in January and finding things tough.

I'm not sure if I should push him back four years, dont know what I'd say if he were landed with a bill.

How did ye work the sums out.

As his Gross income is under his Standard Rate cut off, all his income was at 20%.

31200*20%= 6240.00
Less Credits (3660.28)
Tax Payable 2579.72

namenotavailablE

You can download my tax calculator spreadsheet to check your tax or net pay situation (only has data for 2009 and 2010 but you can manually enter tax credits and cut-off values for any year if it's just for PAYE purposes)- see here:

http://taxcalc.eu/monthlyss