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regarding tax credit and usc

  • 16-03-2016 8:48pm
    #1
    badderrer
    Registered Users, Registered Users 2 Posts: 1 ✭


    i just got my p21 and according to it i have overpaid both tax and usc
    but below it says i will only get the amount of usc back as cheque
    i am new to all this and have no clue can anyone explain this please,
    i have linked to pic of the p21 thanks
    its postimage-org/gallery/ok4gan7i/edcbf0b9/

    forum wont allow me to post link as i am new so in the link replace
    - with . dash with dot ,,thanks


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    badderrer wrote: »
    i just got my p21 and according to it i have overpaid both tax and usc
    but below it says i will only get the amount of usc back as cheque
    i am new to all this and have no clue can anyone explain this please,
    i have linked to pic of the p21 thanks
    its postimage-org/gallery/ok4gan7i/edcbf0b9/

    forum wont allow me to post link as i am new so in the link replace
    - with . dash with dot ,,thanks

    According to the image linked, you overpaid tax and underpaid USC. The USC underpayment was taken away from the tax overpayment. What was left is what will issue to you.


  • #3
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭allthedoyles


    I see you got a similar answer on the askaboutmoney website .
    But anyway the first question I ask myself every year is how can I increase my tax credits and reduce my tax liability .

    Some years ago , your P21 was similar to mine , where I was claiming €4950 in tax credits after receiving my P21.

    But I did'nt accept this as final and I browsed www.revenue.ie to see what else I could claim for .

    I found that I was missing out on work expenses , medical expenses and home carer tax credit .

    So when I see someone with €4950 credits , it tells me that the person is joint assessed with one spouse working .

    Are you missing out on any of the above credits ?


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