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week1 / month 1

  • 24-11-2011 4:30pm
    #1
    timex711
    Registered Users, Registered Users 2 Posts: 104 ✭✭


    I have been working with 2 different companys since easter time. 1 pays me every second week, and the other pays every month. I only got my tax credits a month ago, so im owed over 600euro in taxback.

    i noticed on the tax credit sheet, im on a week1/ month 1 basis.

    what do you think this mean in means of gettin my tax back??

    the lady in work told me i would gradually get it back in my payslip, i.e not pay any tax next week and it will come back that way. is that true?

    how do i get my tax back from a week 1/month 1?

    thanks


Comments

  • #2
    exaisle
    Registered Users, Registered Users 2 Posts: 2,676 ✭✭✭exaisle


    Week1/Month1 is a system that only gives you your tax credits by the week or month, so if you havent used up your tax credits from earlier in the year, you cannot avail of them until the end of the tax year. It idea of week1/month1 is actually to prevent an employee from underpaying tax and then being left with a big bill at the end of the year.

    The lady in work is incorrect. If you;re on a week1/month1 basis, you wont get any repayment of tax from your employer, you'll have to wait until the end of the year and claim it back from the tax office. However, if I were you, I'd contact the tax office and ask if it's possible to put you on a "cumulative" basis. Then the employers can repay any tax you've overpaid, although it's possible that by the end of the year you will still be owed tax.
    If they wont put you on a cumulative basis, then visit your local PAYE office as soon as you get your P60s for 2011 and ask them to carry out a review of the year for you. A refund, if due will only take a few days to process.


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