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Final pay package

  • 04-09-2010 4:52pm
    #1
    loosebrie
    Closed Accounts Posts: 1 ✭


    Hi, i've a few quick questions regarding tax if anyone can help me?

    I will be leaving my job on Friday and the following friday receiving my final pay-cheque which includes my holiday pay for the year. I estimate the last cheque will be around€1600-1700 and i just need to know what i can expect to pay in tax on this?

    Also can i claim this tax back and when?

    I'm moving to Spain on the 14th hopefully for a year or two if all works out so i need as much money behind me as possible. Does this make a difference regarding my tax situation?

    If anyone can help me i would really appreciate it, thanks!


Comments

  • #2
    sambuka41
    Registered Users, Registered Users 2 Posts: 1,083 ✭✭✭sambuka41


    I recently finshed up my job and went on job seekers, i claimed back the tax with a P51 form. Got extra tax that was taken back and then got a certain amount back from my tax credits. I didnt really understand why tho!!! :p I was just applying for the extra tax i was charged.

    I dropped it straight into the tax office and had it within a week. Said that if i was still unemployed in 8 weeks i can apply again for further tax back?? If you ring tax directly they'll be able to advise you,cause not sure if all this applies seen as you will be leaving the country. (fair play to you on that front btw!!:D)


  • #3
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    When payroll are calculating your tax, they do it on the assumption that you will be earning your salary for the full year.

    This means you most certainly will be entitled to a tax refund (because you're won't be working for the full 12 months). You can apply for this in the new year. There is a form you need to fill out (include your pay slips, P60, and doctors receipts, proof you pay rent, etc.) which will get you some money back. Revenue.ie can help you get the form (ring them and ask).

    Regarding how much tax you will pay on your last pay cheque, it is impossible to say really.


  • #4
    gerrycollins
    Registered Users, Registered Users 2 Posts: 1,799 ✭✭✭gerrycollins


    loosebrie wrote: »
    Hi, i've a few quick questions regarding tax if anyone can help me?

    I will be leaving my job on Friday and the following friday receiving my final pay-cheque which includes my holiday pay for the year. I estimate the last cheque will be around€1600-1700 and i just need to know what i can expect to pay in tax on this?

    Also can i claim this tax back and when?

    I'm moving to Spain on the 14th hopefully for a year or two if all works out so i need as much money behind me as possible. Does this make a difference regarding my tax situation?

    If anyone can help me i would really appreciate it, thanks!

    depending on your circumstances with credits etc you will pay the normal tax rates which ball park ( and i mean ball park) work out at you paying 40% of your wages in tax.

    however because you are moving to spain and will not be employed in ireland for the rest of the year you can get a tax balance statement application next Janurary(sign up to revenue online makes it easy) you will then get a refund of the tax paid against your credits etc for the remainder of the year. change your address with revenue as they will post it to that address


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