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Can you claim unused tax credit money?

  • 27-06-2012 11:47am
    #1
    ruicosta10
    Registered Users, Registered Users 2 Posts: 55 ✭✭


    Hello all,

    I claimed a PAYE and Personal Tax Credit for the the tax year 2011. According to my P21, my income tax due was €2,026. Panel 4 shows my personal tax credit at €1650 and my PAYE tax credit as €376.

    Would I not be entitled to claim the balance from the PAYE tax credit (ie 1650-376)?


Comments

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


    ruicosta10 wrote: »
    Hello all,

    I claimed a PAYE and Personal Tax Credit for the the tax year 2011. According to my P21, my income tax due was €2,026. Panel 4 shows my personal tax credit at €1650 and my PAYE tax credit as €376.

    Would I not be entitled to claim the balance from the PAYE tax credit (ie 1650-376)?

    Tax credits are not money! They are one part of the PAYE system of taxation. They are used to reduce the tax you otherwise would pay at the 20% rate. Without them everyone in PAYE would be paying a lot more tax. So no, you don't get a refund of unused credits.

    http://www.revenue.ie/en/tax/it/leaflets/it11.html


  • #3
    ruicosta10
    Registered Users, Registered Users 2 Posts: 55 ✭✭ruicosta10


    Many thanks for that.


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