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no tax free allowance last year?

  • 03-07-2015 1:05pm
    #1
    blatantrereg
    Closed Accounts Posts: 2,743 ✭✭✭


    I received a balancing statement for last year. I've been charged PAYE on 100% of my income. My understanding was that you get a certain amount tax free.

    I tried calling the number provided, however they only accept calls up to 1.15 PM. It's now 2PM on Friday, so I thought I would see if anyone could clarify if this is likely to be an error or not here in the meantime

    Edit: Looking at it a bit more I think it's that you get charged PAYE on all your income, but get tax credits which pay a certain chunk of that. This looks like it was applied correctly, if my understanding is correct.


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    blatantrereg wrote: »
    I received a balancing statement for last year. I've been charged PAYE on 100% of my income. My understanding was that you get a certain amount tax free.

    I tried calling the number provided, however they only accept calls up to 1.15 PM. It's now 2PM on Friday, so I thought I would see if anyone could clarify if this is likely to be an error or not here in the meantime

    Edit: Looking at it a bit more I think it's that you get charged PAYE on all your income, but get tax credits which pay a certain chunk of that. This looks like it was applied correctly, if my understanding is correct.

    Tax is calculated before tax credits are applied.

    so - your liability at 20%, then at 41% is calculated first, and tax credits deducted from this total. This gives you your final tax due


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