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USC allocation when starting a new employment?

  • 17-05-2016 7:38pm
    #1
    Registered Users, Registered Users 2 Posts: 677 ✭✭✭


    Hi,
    Technically I'm not starting a new employment as my old company got bought out and integrated into another company and for all intents and purposes my job didn't change.

    Revenue automatically issued an updated certificate of tax credits and standard rate cut off.

    Basically I have two employments listed:
    -*New Company Name*
    -*Old Company Name Ceased (they actually wrote "Ceased" as I've wrote it here)*

    Okay, for the tax credits and standard rate cut off they've basically zeroed out the figures at the *Old Company Name Ceased* and transferred the numbers to the *New Company Name*.

    I'm fine with this as this makes perfect sense to me.

    The trouble is when you get down to USC allocation they have all the USC bands allocated to *Old Company Name Ceased* while simply have one line for *New Company Name* which states that all income is subject to the 8% USC tax!:eek: No they didn't state that income over a certain threshold was subject to 8% but that the entire amount for the employment is taxed at 8%!

    Is it possible that Revenue made a mistake of transferring everything but the USC bands over? (that would be a gigantic mistake) Am I missing something here? Taxation isn't exactly my forte.


Comments

  • Registered Users, Registered Users 2 Posts: 71,184 ✭✭✭✭L1011


    Revenue failed to issue me any USC bands at all in 2014. Changed employer in late 2013, everything was fine then but my 2014 credits were issued with no USC bands and the pre-budget SRCOP.

    That was a hefty refund when noticed.


  • Registered Users, Registered Users 2 Posts: 677 ✭✭✭Champ


    Hi,

    A quick call to Revenue confirmed that my USC band allocation somehow got messed up.

    The official was able to correct it on the spot and is sending out an amended certificate to both myself and my employer.


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