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Want to reduce work hours - what tax will I pay?

  • 26-06-2012 02:21PM
    #1
    littleteapot
    Registered Users, Registered Users 2 Posts: 258 ✭✭


    I currently work full time in retail. I got offered a place in a fetac level 6 course starting in September. If I continue to work weekends in my job how do I work out what kind of taxes I'll have to pay on my wages? I just want to work out if I can actually afford to cut down my hours before I accept the course.
    Thanks


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,153 ✭✭✭relax carry on


    littleteapot wrote: »
    I currently work full time in retail. I got offered a place in a fetac level 6 course starting in September. If I continue to work weekends in my job how do I work out what kind of taxes I'll have to pay on my wages? I just want to work out if I can actually afford to cut down my hours before I accept the course.
    Thanks

    It all depends on your circumstances as everyone's PAYE is unique to them.

    Check out the link below on how to work out your PAYE.

    http://www.revenue.ie/en/personal/faqs/how-do-i-work-out-my-tax.html


  • #3
    littleteapot
    Registered Users, Registered Users 2 Posts: 258 ✭✭littleteapot


    Thank you, that really helped. I think I worked it out now. I'm still a little bit confused about the USC though. I can't work out from my current payslip how that is calculated. At the moment it seems to be 5% of gross, but I only see 2%. 4% and 7% mentioned online.


  • #4
    namenotavailablE
    Registered Users, Registered Users 2 Posts: 59,748 ✭✭✭✭namenotavailablE


    There are a few Excel calculators [2007 file is the best one but the 2003 will do it too] which I've uploaded that should help you with this query- they can be accessed from the link in my signature below (only viewable when you are logged in) or from the 'About me' tab on my profile page. (Unfortunately, the moderator doesn't test or trust ANY calculators so I can only show them in a signature).
    If you need a hand using them send a PM to me.

    Free Excel net pay calculator- https://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm



  • #5
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,153 ✭✭✭relax carry on


    littleteapot wrote: »
    Thank you, that really helped. I think I worked it out now. I'm still a little bit confused about the USC though. I can't work out from my current payslip how that is calculated. At the moment it seems to be 5% of gross, but I only see 2%. 4% and 7% mentioned online.

    The USC is worked out on a cumulative basis so depending on your wage, a portion may be at the 2% rate, some at the 4% and some even at the 7%.

    See the link below for some examples on how its worked out.

    http://www.revenue.ie/en/tax/usc/usc-examples.pdf


  • #6
    littleteapot
    Registered Users, Registered Users 2 Posts: 258 ✭✭littleteapot


    Thank you all so much. I have it all worked out now :)


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