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Can PAYE tax credit be used for non PAYE income?

  • 06-11-2013 8:33pm
    #1
    augusta24
    Registered Users, Registered Users 2 Posts: 633 ✭✭✭


    Hi all,

    I know this is probably a stupid question, but it popped into my head and I can't find the answer anywhere else.

    If I work PAYE but also self employment for about 2 months of the year, is it possible to use the leftover PAYE tax credit on my self employment income? Sorry if it's a blatantly obvious no but I wanted to double check to be sure! I was a student for the rest of the year so the PAYE income of 2 months would be more than covered by my PAYE tax credit so just curious if the balance could be used on other non PAYE income.

    Thanks!


Comments

  • #2
    Howjoe1
    Closed Accounts Posts: 2,666 ✭✭✭Howjoe1


    augusta24 wrote: »
    Hi all,

    I know this is probably a stupid question, but it popped into my head and I can't find the answer anywhere else.

    If I work PAYE but also self employment for about 2 months of the year, is it possible to use the leftover PAYE tax credit on my self employment income? Sorry if it's a blatantly obvious no but I wanted to double check to be sure! I was a student for the rest of the year so the PAYE income of 2 months would be more than covered by my PAYE tax credit so just curious if the balance could be used on other non PAYE income.

    Thanks!

    no ..only allowable against PAYE Income Schedule E Income) and not income under Schedule D (eg self employment)


  • #3
    augusta24
    Registered Users, Registered Users 2 Posts: 633 ✭✭✭augusta24


    Howjoe1 wrote: »
    no ..only allowable against PAYE Income Schedule E Income) and not income under Schedule D (eg self employment)

    Thanks for the reply, I figured as much but wantd to double check. Thanks.


  • #4
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭allthedoyles


    So if your paye income is less than the allowance of 8250 , you will only receive the actual amount of paye tax credit .

    If your paye income is more than 8250 , you will receive full tax credit of 1650.

    But you still have your personal tax credit of 1650 to use


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