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PAYE back to work from unemployment

  • 07-07-2011 12:54pm
    #1
    checknraise
    Registered Users, Registered Users 2 Posts: 285 ✭✭


    Hi,

    Apologies if there is has already been answered a 100 times but I went through the links and couldn't find anything.

    I have recently gone back to work since May and have been emergency taxed thus far. I have got everything sorted with my employer the only issue I have is my tax credits have been reduced as I was claiming job seekers for 4 months my tax credits have been reduced and my monthly cut off point has also been reduced. My monthly cut off point has been reduced to around €2,500 at the 20% rate which is down from around €3,200 i believe till one hits 41%. I have yet to receive a payslip that I have not been emergency taxed.

    When leaving my last job I received a final payment for money that was owed to me (annual leave, commission owed etc). I was paid in January but I was under the impression as I finished with my previous employer in December that it wouldn't affect this tax year.

    I am wondering will I end up paying alot more tax when I go over the €2,500 monthly cut off point compared to the average PAYE single worker?

    As I have not worked for the current tax year do I not pay less tax?

    thanks in advance


Comments

  • #2
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    I'm a bit confused.

    If your tax credits have been reduced it means Revenue have provided your tax credits and tax bands to your new company. This means you should not be on emergency tax.

    Re Jan pay. Depends - if what they paid you in Jan relates to what was processed in December then it should form part of your 2010 income. However, if they processed your extra pay in Jan then they should have taxed you and processed you in Jan 2011 or backdated it to 2010 and given you a revised P60. If 2011 related you would be entitled to a P45.


  • #3
    checknraise
    Registered Users, Registered Users 2 Posts: 285 ✭✭checknraise


    Hi,

    My employer only received the tax cert from the tax office today so I have been emergency taxed up till now. My tax credits will be updated for the July payroll.

    thanks


  • #4
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    Super!


  • #5
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    checknraise wrote: »
    Hi,

    Apologies if there is has already been answered a 100 times but I went through the links and couldn't find anything.

    I have recently gone back to work since May and have been emergency taxed thus far. I have got everything sorted with my employer the only issue I have is my tax credits have been reduced as I was claiming job seekers for 4 months my tax credits have been reduced and my monthly cut off point has also been reduced. My monthly cut off point has been reduced to around €2,500 at the 20% rate which is down from around €3,200 i believe till one hits 41%. I have yet to receive a payslip that I have not been emergency taxed.

    When leaving my last job I received a final payment for money that was owed to me (annual leave, commission owed etc). I was paid in January but I was under the impression as I finished with my previous employer in December that it wouldn't affect this tax year.

    I am wondering will I end up paying alot more tax when I go over the €2,500 monthly cut off point compared to the average PAYE single worker?

    As I have not worked for the current tax year do I not pay less tax?

    thanks in advance

    That reduced figure of 2.5k p.m at the standard rate is cumulative, so up to the end of July you can have earned 17.5k before you hit the high rate, and this will continue to increase by 2.5k per month.

    Ditto your tax credits, you have 6months of partly unused credits, so you might pay little or no tax for a couple of months. (After you get your emergency tax back that is!)


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