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Tax credits and starting work

  • 28-08-2015 1:11pm
    #1
    Alexanderis
    Registered Users, Registered Users 2 Posts: 63 ✭✭


    I've got a question regarding Tax Credits and how they are spread during a fiscal year.

    I've started work on 18th of March this year and looking at my payslips and online tax calculators, everything looks great, but the tax calculators do not take into account the fact that I won't be working a full fiscal year this year.

    At the moment I have 3300 tax credits/12 = 275 per month.
    Shouldn't I have 3330/(12-2,5)=~347 credits per month?

    If thats the case then shouldn't I just ring revenue and let them know about this?


Comments

  • #2
    sambucus nigra
    Registered Users, Registered Users 2 Posts: 115 ✭✭sambucus nigra


    If you had any income (Domestic, DSP or Foreign) between 1st January and starting work you'd have to let Revenue know.

    If you had no income from 1st January to starting work then yes you get the full €3300


  • #3
    Alexanderis
    Registered Users, Registered Users 2 Posts: 63 ✭✭Alexanderis


    I am from Romania and I did work in Romania prior to arriving in Ireland.
    Does my Romanian income count as "Foreign"?


  • #4
    sambucus nigra
    Registered Users, Registered Users 2 Posts: 115 ✭✭sambucus nigra


    It does and should be declared.

    Your tax credits indicate that you're on a Week 1 basis - best contact Revenue, ask to be put on a cumulative basis (giving you the benefit of the full year's tax credits) and provide figures of your gross income earned in Romania + amount of tax you paid on that income.


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