Self Employed Credits + PAYE Credits

VDD

Hey Everyone,
I am a sole trader for the last number of years and have payed and filed online on time every time.
Last year I had a number of Months PAYE work where I earned around €5500. My Self Employed earnings were roughly €15000.
My question is am I entitled to the €1650 self employed tax credit for my sole trader income and the €1650 PAYE credit for the PAYE work? During my PAYE work I was unable to operate my usual sole trader role so for the last months of the year it was my only income.
Could anyone clarify this for me please?
Much appreciate,
VDD

HcksawJimDuggan

Yes you would be entitled to claim both credits but there is a restriction on the PAYE credit. In your case it would be restricted to €5,500 x 20% = €1,100. In order to claim the full PAYE credit you would need income of €8,250 from an employment.

Also, note that if you are a proprietary director of the company in which the PAYE income was earned you would not be entitled to the PAYE credit.

The first €1,650 that you mentioned is the single tax credit and not self employed tax credit.

VDD

Thank you so much for the prompt reply. I appreciate you taking the time to answer.
So just to clarify, The total Tax credits I am entitled to will be €2750?
Might seem to be a foolish question, but just to be sure.
I was just a regular employee in the PAYE. No position of importance at all.
Many thanks again

HcksawJimDuggan

Ya €2,750 is the total credit you are entitled to.

adrian.s

Hi guys,

Hopefully not too dumb a question, but on ROS, how does one go about claiming a percentage of the PAYE tax credits? Last time I looked it was tick box giving you all of the credits, or none.

Thanks,
Adrian.

2ndcoming

You just tick the box, when your calculating your assessment it will automatically reduce the PAYE credit to whatever you are due to cover your PAYE income.