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Change of work practices

  • 03-01-2013 6:03pm
    #1
    rotinaj
    Registered Users, Registered Users 2 Posts: 831 ✭✭✭


    During the year my work practices changed and i was paid around €2000 to compinsate for it. At the time I paid tax on the lump sum but was told this could be claimed back. I've looked on the revenue site and PAYE anytime but cant find much info.

    Can anyone tell me if this is possible?


Comments

  • #2
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    Step 1- type www.revenue.ie

    Step 2 - type "lump sum" into the search box.

    Step 3 - find this leaflet as the fifth search result: http://www.revenue.ie/en/tax/it/reliefs/lumpsum_payments_employees.html

    It's slightly messy, but in effect only 1/3rd of the payment gets taxed. The employer taxes the whole lot at the time of payment and then you ask Revenue for relief.


  • #3
    Doom
    Banned (with Prison Access) Posts: 2,381 ✭✭✭Doom


    Online you can do a P21 balancing cert, maybe that will help.


  • #4
    rotinaj
    Registered Users, Registered Users 2 Posts: 831 ✭✭✭rotinaj


    Cheers lads. i will ring the tax office in a week or two and see what they say.Just informed today that our practices are changing again as of Feb first so will have to do it all again next year.


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