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Reducing PAYE tax - options?

  • 11-02-2016 5:15pm
    #1
    One More Toy
    Registered Users, Registered Users 2 Posts: 3,932 ✭✭✭


    Are there many options to reduce your PAYE liability?

    I already max out pension contributions but just querying is there anything else I can do?


Comments

  • #2
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,686 ✭✭✭barneystinson


    One More Toy wrote: »
    Are there many options to reduce your PAYE liability?

    I already max out pension contributions but just querying is there anything else I can do?

    Earn less / work a shorter week?


  • #3
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,892 ✭✭✭allthedoyles


    Increase your tax credits / claim full entitlements


  • #4
    Carawaystick
    Registered Users, Registered Users 2 Posts: 8,779 ✭✭✭Carawaystick


    get old, over 65 anyway
    over 70 to get a usc tax break


    pay doctors lots, get a fifth back from the taxman

    get a new bike on the bike to work scheme bought for you by your employer
    get a public transport ticket bought for you by your employer.


  • #5
    namenotavailablE
    Registered Users, Registered Users 2 Posts: 59,723 ✭✭✭✭namenotavailablE


    Also, Permanent Health Insurance (aka Income Protection) premiums are treated much the same as pension contributions from a tax perspective (PAYE relief granted at the marginal rate but no PRSI or USC relief).

    Free Excel net pay calculator- https://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm



  • #6
    jjjd
    Registered Users, Registered Users 2 Posts: 684 ✭✭✭jjjd


    Invest in EII/BES schemes?

    http://www.revenue.ie/en/tax/it/leaflets/it55.html


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