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Directors and tax credits

  • 24-02-2014 6:22pm
    #1
    cojomo2
    Registered Users, Registered Users 2 Posts: 3,220 ✭✭✭


    Ok, so I have been self employed for years, and am still the director of my company that has not been trading for a year now.

    I know directors are not entitled to PAYE tax credits, but is that just against salaries from their company?

    Even though my company ceased all operations over a year ago, it could not be legally closed down then , so a nil set of accounts will be filed shortly and the company will be wound down/closed off.

    In the last year I have been studying full time (fas) and now I have just been offered a job. Anyone know, will I be entitled to the usual tax credits all PAYE employees get, or will I get none as I am still a director of another company (that is no longer trading)? Thanks


Comments

  • #2
    2ndcoming
    Registered Users, Registered Users 2 Posts: 3,592 ✭✭✭2ndcoming


    You're only disallowed the PAYE credit against directorship income, if you take up a job as an ordinary employee you'll get the credit against that income.

    Even if you did have income from your own company you would still be due the PAYE against the second job.


  • #3
    cojomo2
    Registered Users, Registered Users 2 Posts: 3,220 ✭✭✭cojomo2


    2ndcoming wrote: »
    You're only disallowed the PAYE credit against directorship income, if you take up a job as an ordinary employee you'll get the credit against that income.

    Even if you did have income from your own company you would still be due the PAYE against the second job.

    cheers man, appreciate the info.


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