2015 IT Return

theenergy

We are a married couple with both paye income and additional self employed income

Him Paye Inc 30K
Her Paye Inc 30K

Self Emloyed Income 5K Turnover and profit (trade - no costs)

Total Inc 65K

What would the paye prsi and use be approx?

adrianw

PRSI is 4% = €2,600
PAYE 20% €13,000 less credits of 6,600= €6,400

Total €9,000.

barneystinson

adrianw wrote: »

PRSI is 4% = €2,600
PAYE 20% €13,000 less credits of 6,600= €6,400

Total €9,000.

Strange way to answer the question.
Not including USC.
Ignoring amounts of tax & PRSI paid through payroll.

Easier way to look at it is to say you'll pay tax on the additional income at 20%, PRSI at 4% and USC at 7%, a total of 31% or approx. €1550.

(Assuming your employers have deducted the correct amounts of tax through payroll.)

barneystinson

adrianw wrote: »

PRSI is 4% = €2,600
PAYE 20% €13,000 less credits of 6,600= €6,400

Total €9,000.

Strange way to answer the question.
Not including USC.
Ignoring amounts of tax & PRSI paid through payroll.

Easier way to look at it is to say you'll pay tax on the additional income at 20%, PRSI at 4% and USC at 7%, a total of 31% or approx. €1550.

(Assuming your employers have deducted the correct amounts of tax through payroll.)

adrianw

Barney why do you always have to pick holes in other people's answer. The op asked a question and I provided an answer. If you want to offer additional info and be helpful please do.

The op's original question asked what would the total paye, prsi and USC be on €65k. I missed the USC bit as there was a typo.

did my reply provide the correct answer to how much PAYE and PRSI would be payable on €65k?

barneystinson

adrianw wrote: »

Barney why do you always have to pick holes in other people's answer. The op asked a question and I provided an answer. If you want to offer additional info and be helpful please do.

The op's original question asked what would the total paye, prsi and USC be on €65k. I missed the USC bit as there was a typo.

did my reply provide the correct answer to how much PAYE and PRSI would be payable on €65k?

Common sense would suggest Adrian, that when you're dealing with a layperson the question they ask may not match the actual answer they want.

Clearly all the OP wants to know is how much extra taxes they'll pay on the additional income.

I'm not trying to pick holes in your answer, it's an answer, but I don't think it's the answer the OP actually wanted to get to. As for adding something useful, I think I did, by telling them the answer they wanted.

I work in tax, and I couldn't tell you to within several thousand, how much PAYE, PRSI and USC my wife and I pay, because it's deducted at source, it's pretty much irrelevant.