underpaid PAYE tax???

kdowling

I work as a locum and had 14 different employers in 2011.
I divided tax credits amound 3 different employers and just got emergency taxed from the others.
I just got all my p60 forms back and expected to get a tax refund like i did in other years but when i logged into the PAYE online service and added up the amounts paid and tax paid I got €54,000 recieved and paid €12,500 tax.
This seems like am underpayment of tax is it not?
How is that possible given that i was paying emergency tax with some employers?

IMightKnow

click request balancing statement on PAYE online

kdowling

IMightKnow wrote: »

click request balancing statement on PAYE online

Thanks for the reply.
I've been trying to do that but it won't allow me. Very frustrating!!

i have gone into 2011, then into request history, then on the filter by enrty type i scroll to p21 balancing statement, click go and then nothing!!

Is there any other way of accessing it?

allthedoyles

The figures above don't necessarily mean an underpayment .

Did you draw any SW benefits during the year, that may not be taken into account .

smeharg

kdowling wrote: »

I work as a locum and had 14 different employers in 2011.
I divided tax credits amound 3 different employers and just got emergency taxed from the others.
I just got all my p60 forms back and expected to get a tax refund like i did in other years but when i logged into the PAYE online service and added up the amounts paid and tax paid I got €54,000 recieved and paid €12,500 tax.
This seems like am underpayment of tax is it not?
How is that possible given that i was paying emergency tax with some employers?

Do the P60s agree with the information on PAYE Anytime?

Each employment should be listed with gross taxable pay and tax deducted.

If not you'll probably need to send the offending P60s to Revenue.

kdowling

smeharg wrote: »

Do the P60s agree with the information on PAYE Anytime?

Each employment should be listed with gross taxable pay and tax deducted.

If not you'll probably need to send the offending P60s to Revenue.

Yes the p60's do match up but for one or two i got p45's which spanned two years so i didn't get the break down of the tax for 2011.

I had no SW claims during the year or any claims at all really so thats why i'm a bit puzzled.

Citizenpain

a p45 shouldn't span 2 years

smeharg

kdowling wrote: »

smeharg wrote: »

Do the P60s agree with the information on PAYE Anytime?

Each employment should be listed with gross taxable pay and tax deducted.

If not you'll probably need to send the offending P60s to Revenue.

Yes the p60's do match up but for one or two i got p45's which spanned two years so i didn't get the break down of the tax for 2011.

I had no SW claims during the year or any claims at all really so thats why i'm a bit puzzled.

The p45s will cover 1 January 2011 to date of cessation.

If those aren't on PAYE Anytime then that's probably the answer.

allthedoyles

Using standard tax credits of €3300 for 2011 , you would pay tax as follows :

• €32,800 @ 20% = €6,560
• €21,200 @ 41% = €8,692

Less your credits of €3,300 and tax due is € 11,950 approx .

If you paid €12,500 tax you will receive refund , especially when you claim other allowances like expenses , medical , service charges etc

Check you PRSI payments as well , as you may be due refund too

barneystinson

It's quite easy for an underpayment to arise in a situation like this:

Consider the last couple of employments of the 11, the OP would already have used up all his tax credits and SRCOP from the earlier employments, but if he gives them his PPSN and goes on emergency tax, they will give him a tax credit of €32p.w. and a SRCOP of €631, neither of which he would necessarily be entitled to on a normal cumulative basis...

namenotavailablE

But to counter that emergency tax scenario, he would potentially be paying 41% on everything for a portion of the time he's on the emergency basis. The credit and cutoff are totall removed after the second month.
If the OP paid PAYE of 12500 (as opposed to PAYE, PRSI and USC totalling that value) then he looks to be in a refund scenario as per allthedoyles.

barneystinson

namenotavailabl wrote: »

But to counter that emergency tax scenario, he would potentially be paying 41% on everything for a portion of the time he's on the emergency basis. The credit and cutoff are totall removed after the second month.
If the OP paid PAYE of 12500 (as opposed to PAYE, PRSI and USC totalling that value) then he looks to be in a refund scenario as per allthedoyles.

I understand that is the general scenario, but in the specific case at hand, where a person is a locum and working in a series of different short-term employments (11 in the year would suggest an average of 4 - 5 weeks) then underpayment could easily arise, even on the Emergency Basis.

I wonder if it's possible the OP is including some of the other deductions (USC or PRSI) in the 12,500 quoted as tax.

kdowling

barneystinson wrote: »

I understand that is the general scenario, but in the specific case at hand, where a person is a locum and working in a series of different short-term employments (11 in the year would suggest an average of 4 - 5 weeks) then underpayment could easily arise, even on the Emergency Basis.

I wonder if it's possible the OP is including some of the other deductions (USC or PRSI) in the 12,500 quoted as tax.

Thanks for the contributions guys.
The tax quoted does not include prsi & USC.
I tried to get the p21 balancing statement today but as i was registered for self assessment in 2010 I have to deregister first before i can find out if i have an underpayment or overpayment scenario!

I'd strongly suggest that you do the calculation yourself first of all.

It shouldn't be too hard to set up an excel spreadsheet and enter the figure from your P60's/P45's into it in order to give you total figures and work the tax out. While based on the rough figures you've provided it doesn't appear that a significant under or over payment as arisen either way you don't want to be surprised by a P21 when you receive it showing an underpayment!

You often hear stories of people who have underpayments amounting to thousands and weren't aware of it at all.

kdowling

anyone know the name of the form for cancelling my self assessment status? cannot find it on the revenue site.

barneystinson

kdowling wrote: »

anyone know the name of the form for cancelling my self assessment status? cannot find it on the revenue site.

http://www.revenue.ie/en/tax/it/forms/trcn1.pdf