New Tax including USC

seaner

Hi
I just got word from my employer what my new weekly net figures are taking into consideration the changes that were made by the Dec budget. I'm down about 30 euro per week and my total gross is about roughly 25k so it, to me, is quite a lot.

Here's my question, I actually get paid by 2 different employers. The main one pays me about 19.5K per annum and the other pays me about 6.5k per annum.

Do revenue work out my tax twice, as in per employer or do they group and then apply tax?
Because I was wondering, if I could ask to have my smaller income (6.5k) reduced to 4k so it doesn't get hit by USC and increase my main income by the difference.

Do you think this would be of any benefit to me. My employers are flexible and this wouldn't be a problem for them I'd imagine as they are all the one family, but I receive payment from 2 companies within the 1 family business if you get me.

Anyway if anyone could shed some light on this for me I'd great appreciate it as i'm the one inthe office who got hit the most and I can't understand why. If I put my figures into any of the online calculators it was estimating i'd be down about 20 euro per week and I could just about handle that. But 30 per week is just too much and i need to figure out if i've any options.

PS, i'm single, own 1 property and zero children - age 29.

thanks

Sean

AugustusMinimus

seaner wrote: »

Hi
I just got word from my employer what my new weekly net figures are taking into consideration the changes that were made by the Dec budget. I'm down about 30 euro per week and my total gross is about roughly 25k so it, to me, is quite a lot.

Here's my question, I actually get paid by 2 different employers. The main one pays me about 19.5K per annum and the other pays me about 6.5k per annum.

Do revenue work out my tax twice, as in per employer or do they group and then apply tax?
Because I was wondering, if I could ask to have my smaller income (6.5k) reduced to 4k so it doesn't get hit by USC and increase my main income by the difference.

Do you think this would be of any benefit to me. My employers are flexible and this wouldn't be a problem for them I'd imagine as they are all the one family, but I receive payment from 2 companies within the 1 family business if you get me.

Anyway if anyone could shed some light on this for me I'd great appreciate it as i'm the one inthe office who got hit the most and I can't understand why. If I put my figures into any of the online calculators it was estimating i'd be down about 20 euro per week and I could just about handle that. But 30 per week is just too much and i need to figure out if i've any options.

PS, i'm single, own 1 property and zero children - age 29.

thanks

Sean

The legislation for the new USC hasn't been published yet.

However, if it's the same as the Income Levy legislation (likely) then if you are NOT self employed, by lowering your second income below the 4k limit, then you won't pay USC on any of this Income.

However, if you file a tax return each October, your tax return will do a balancing act, meaning you'll end up paying USC on all of your income.


I've taken a quick look through the legislation and there doesn't appear to be anything saying you can't play around with your income sources in a direct effort to avoid the Income Levy.

gzmdmc

I have recently recevied my year end bonus of 7.5k.... shocked i got it but my tax is working out at ov erf 3.5 k on my wages! Is there no way around this... Can i claim any of this back???:(