Payslip explained

boxy_80

My salary per month is 1956. The gross pay after pre tax deduction is 1898.

Employee PRSI- 78
USC - 39
Pre tax deduction- 58

Net pay-1779.

Annual Cut -ff- 32,800
Annual tax credit - 3300

But under tax section in my payslip, it says- 0

Why so? Could someone please explain it?

Thanks

ibarelycare

Did you just start a new job after a break in employment?

boxy_80

Yes. I started working here in May 2014. Before this, I worked last from June- Dec 2012.

ibarelycare

Your tax credits and cut off have accumulated from the start of the year, so in May you had 5 months' worth of tax credits built up. This means that you won't have a few months before you have any tax to pay. I can do a proper calculation for you tomorrow to see if/when you'll have to pay any before the end of the year, just about to leave work now!

boxy_80

ibarelycare wrote: »

Your tax credits and cut off have accumulated from the start of the year, so in May you had 5 months' worth of tax credits built up. This means that you won't have a few months before you have any tax to pay. I can do a proper calculation for you tomorrow to see if/when you'll have to pay any before the end of the year, just about to leave work now!

That would be great. If you can do it for me. Thanks. Could you let me know my salary once I run out of the credits.

ibarelycare

Ok so you have enough PAYE credits and cut-off built up to cover the rest of the year, so you won't be paying any PAYE.

Your USC looks like it will increase by about €18 this month, and then by a further €4 next month and will remain the same for the rest of the year.

My calculations for eePRSI are a few euro lower than your one for some reason, but your net pay for August by my calculation should be €1766, and then €1762 from September onwards.