P21 for 2013, currently unemployed.

dashdoll

Hi all,

I have a query which I would really apreciate any advice on.

I'm thinking of requesting a P21 balancing statement for the year 2013 and I'm guessing the facility to do this online will be open soon. For a bit of background, I got one in March 2013 for the last few years and received a rebate of 1800e (had changed jobs a few times and was overpaying usc)

I'm thinking of doing it again for 2013 but my circumstances have changed and I don't want to end up owing money to Revenue. Basically, I stopped working in June 2013 and am currently unemployed. I was in receipt of Jobseekers Benefit until December 2013 and my stamps expired and I am now on Jobseekers Allowance. I know that JSB is taxable so not sure what effect this would have on a P21?

Basically I'm wondering if it would be financially beneficial for me to do it and/or if I would be worse off as a result of doing it it or if requesting a p21 would have an adverse effect on my taxes when I start working again?

Would really appreciate any info on this!

barneystinson

dashdoll wrote: »

Hi all,

I have a query which I would really apreciate any advice on.

I'm thinking of requesting a P21 balancing statement for the year 2013 and I'm guessing the facility to do this online will be open soon. For a bit of background, I got one in March 2013 for the last few years and received a rebate of 1800e (had changed jobs a few times and was overpaying usc)

I'm thinking of doing it again for 2013 but my circumstances have changed and I don't want to end up owing money to Revenue. Basically, I stopped working in June 2013 and am currently unemployed. I was in receipt of Jobseekers Benefit until December 2013 and my stamps expired and I am now on Jobseekers Allowance. I know that JSB is taxable so not sure what effect this would have on a P21?

Basically I'm wondering if it would be financially beneficial for me to do it and/or if I would be worse off as a result of doing it it or if requesting a p21 would have an adverse effect on my taxes when I start working again?

Would really appreciate any info on this!

Assuming you are a "normal" single person, you'd have weekly tax credits of €63.46 (€3,300/52).

If you finished work in June and hadn't underpaid tax up to that point, then over the remainder of the year if your only income was JSB you'd be accumulating nearly €30 per week of unused tax credit which would result in a repayment on a P21.

You should also have overpaid USC.

There's a couple of assumptions in there though. 2 minutes with pen, paper and calculator will tell you the answer.

dashdoll

barneystinson wrote: »

Assuming you are a "normal" single person, you'd have weekly tax credits of €63.46 (€3,300/52).

If you finished work in June and hadn't underpaid tax up to that point, then over the remainder of the year if your only income was JSB you'd be accumulating nearly €30 per week of unused tax credit which would result in a repayment on a P21.

You should also have overpaid USC.

There's a couple of assumptions in there though. 2 minutes with pen, paper and calculator will tell you the answer.

That's great, thanks for the info.

dashdoll

dashdoll wrote: »

That's great, thanks for the info.

Apologies, just realised I made an error. My query refers to 2014. I stopped working in June 2014 and am looking for a P21 for theat year. Presume its too early now anyway!