RCT Tax

bugsy1977

with rct tax is the any of it tax free as in the same way a paye worker might be able to earn 12,000 before the have to pay tax?

Victor

RCT means a certain percentage is withheld until you get your taxes sorted. You will still get your tax credits (not the PAYE credit) when you do your tax return.

RCT has to be withheld on the full amount, no allowances made. If at the end of the year you have paid too much tax, you will get it back.

If you get a tax clearance cert, RCT isn't withheld.

Paying RCT and not making a tax return isn't allowed and you could be subject to penalties, interest and prosecution.

http://www.revenue.ie/en/tax/rct/index.html

bugsy1977

i know victor,im getting prosecuted at the moment,i m trying to calculate how much i owe,i got back all the tax i overpaid not knowing that my buissness would colapse due to the construction bubble bursting, i earned 26,000 that year,i was wondering do i get any tax credits or do i have to pay tax on it all.

JONJO THE MISER

What has this got to do with gambling

x PyRo

Moved from Gambling.

Hope this is in the right place!