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Split tax credits

  • 30-09-2011 3:45pm
    #1
    lilsis
    Registered Users, Registered Users 2 Posts: 116 ✭✭


    OK so I just started a second job and I've gotten my tax credits split 50:50 between the two jobs as the lady on the phone recommended. So that leaves me with €8250 tax free per job per year (I'm a student and they're part-time in case you were wondering). So what I'm wondering is do employers take the €8250 and divided it by 12 to get €687.5 per month that I am tax free? I know that tax credits are a yearly thing but say in one month in one job I earned €900 would I be taxed on that and then it given back to me or would it be taken as a once off payment and so I wouldn't be taxed? In one of the jobs I do occassional work and so my payment fluctuates quite a lot between months but in the year I wouldn't earn more than the €8250. Thanks for any help on answering my questions.


Comments

  • #2
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭allthedoyles


    The first thing you need to check , when you receive your new tax credit certicate , is whether or not it is a cumulative cert.

    If it is cumulative cert , it means that you will receive the full benefit of your maximum tax-free amounts of €8,250 per job .

    If your new tax credit certificate is issued on a ''week 1 basis '' you will not receive maximum benefit , if you earn , say €900 in a month .

    So check your new tax credit cert and see if is states this :

    ' for tax year 2011 and following years '' or '' for 2011 week 1 ''

    Another check is through payroll , where your payslip should have a code ' N' or a code 'W1 '


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