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USC

  • 04-01-2012 10:39am
    #1
    maddogcollins
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭


    Quick query on USC.

    Received Tax Credits and I have a USC Rate 2 Cut-off point of €13,624. I believe this is meant to be €16,016.

    I didn't think that different levels were applicable or have I missed something?


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    maddogcollins wrote: »
    Quick query on USC.

    Received Tax Credits and I have a USC Rate 2 Cut-off point of €13,624. I believe this is meant to be €16,016.

    I didn't think that different levels were applicable or have I missed something?

    On page 2 of the cert, the USC rate band 1 should be 10036 and rate band 2 should be 5980 giving 16016 in total. Are you reading it from the very bottom where it may be split if you have multiple employments?


  • #3
    maddogcollins
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭maddogcollins


    Ya, it gives the Rate 2 band of €3,588. Only one employment. I will give revenue a call, I just wasn't sure if there were different bands. Thanks


  • #4
    Tow
    Registered Users, Registered Users 2 Posts: 9,228 ✭✭✭Tow


    The USC 4% cut off of '13,624' is caused by a bug in Revenue's computer system when you have two employers registered and 100% of your allowances allocated to one of the two employer. The missing 2,392 has gone to the second employer...

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



  • #5
    mac.in
    Registered Users, Registered Users 2 Posts: 594 ✭✭✭mac.in


    Tow wrote: »
    The USC 4% cut off of '13,624' is caused by a bug in Revenue's computer system when you have two employers registered and 100% of your allowances allocated to one of the two employer. The missing 2,392 has gone to the second employer...

    This has happened to me too. I have 2 employers. I work mostly with first employer and almost not working with the second (the second is a part-time job). But because of the USC cut-off at 13,624 for 4% with the first employer, I'm paying more (I'm paying USC at 7% before my total income - first and second job combined - reaches the maximum limit allotted for 4%). This happens because I hardly work with the second employer and fail to utilize the 4% allotted to the second employer.

    Could someone please let me know if I will be eligible for a refund of the excess paid, at the end of the year. Also, can I transfer the 4% allotted for the second employer to the first employer (so that the second employment is charged at flat 7%)?

    Thanks in advance.


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