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Confused about tax

  • 16-04-2014 9:27am
    #1
    OldNotWIse
    Closed Accounts Posts: 12,468 ✭✭✭✭


    Due to be off work for 4 weeks next month for exams. Have about 60 hours holiday pay accrued. I remember from last year that I got screwed on tax because I applied for all my leave at the same time, but then the week after I came back I got a weird tax refund because I'd had 3 weeks of no wages :confused:

    Anyone advise what's the best way to do it this year? Should I just put in for 15 hours for each week that I am off and pay minimum tax? Or will it work out the same?

    Sorry if this is a stupid question but not really well up on all of this.

    Thanks.


Comments

  • #2
    TitianGerm
    Registered Users, Registered Users 2 Posts: 29,086 ✭✭✭✭TitianGerm


    OldNotWIse wrote: »
    Due to be off work for 4 weeks next month for exams. Have about 60 hours holiday pay accrued. I remember from last year that I got screwed on tax because I applied for all my leave at the same time, but then the week after I came back I got a weird tax refund because I'd had 3 weeks of no wages :confused:

    Anyone advise what's the best way to do it this year? Should I just put in for 15 hours for each week that I am off and pay minimum tax? Or will it work out the same?

    Sorry if this is a stupid question but not really well up on all of this.

    Thanks.

    You went over your tax credits buy getting paid in one lump sum. And didn't use those weekly credits for the next 3 weeks. The week you were back to work it balanced itself out and you got back a any extra tax you paid on the holiday pay. Sorry on the mobile site :)


  • #3
    OldNotWIse
    Closed Accounts Posts: 12,468 ✭✭✭✭OldNotWIse


    emmetkenny wrote: »
    You went over your tax credits buy getting paid in one lump sum. And didn't use those weekly credits for the next 3 weeks. The week you were back to work it balanced itself out and you got back a any extra tax you paid on the holiday pay. Sorry on the mobile site :)


    Ok so overall it balances, just depends if I want to live like a king for a week and a pauper for 3? :D


  • #4
    TitianGerm
    Registered Users, Registered Users 2 Posts: 29,086 ✭✭✭✭TitianGerm


    OldNotWIse wrote: »
    Ok so overall it balances, just depends if I want to live like a king for a week and a pauper for 3? :D

    Exactly. Are you in college ?


  • #5
    OldNotWIse
    Closed Accounts Posts: 12,468 ✭✭✭✭OldNotWIse


    emmetkenny wrote: »
    Exactly. Are you in college ?

    Part time. Working full time and in college four evenings and Saturdays.


  • #6
    TitianGerm
    Registered Users, Registered Users 2 Posts: 29,086 ✭✭✭✭TitianGerm


    OldNotWIse wrote: »
    Part time. Working full time and in college four evenings and Saturdays.

    Ah right. I just ask as full time students don't pay tax and thought your employer may have made a.mistake


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  • #7
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,686 ✭✭✭barneystinson


    emmetkenny wrote: »
    Ah right. I just ask as full time students don't pay tax and thought your employer may have made a.mistake

    Careful there Ted... a full time student will pay tax if their earnings are sufficient. That post could be read as implying there's some kind of exemption for full time students!


  • #8
    TitianGerm
    Registered Users, Registered Users 2 Posts: 29,086 ✭✭✭✭TitianGerm


    barneystinson wrote: »
    Careful there Ted... a full time student will pay tax if their earnings are sufficient. That post could be read as implying there's some kind of exemption for full time students!

    Woops sorry I should have been a little clearer !! Apologies for any mixup :)


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