Self Employed to PAYE

billyduk

I have been self employed for the last number of years. I recently accepted a job with a company and have just finished my first month with them. As I was self-employed, I could not give my new employers a P45 and instead gave them my PPS.

I forgot to inform the revenue that I was ceasing my self employment. Will the tax on my first months pay be effected by this? Am I likely to be emergency taxed or incur any other irregular tax bands?

I haven't been able to see my payslip yet, but the amount that came into my bank a/c seems way too light. I was under the impression that the first 4 weeks (month) under any emergency tax would be taken at the lower tax band with 8% USC. Even accounting for 8% USC, my pay seems a lot lighter than it should be.

I went back to double check that I hadn't misread the salary terms in my contract and I haven't.

Any advice will be greatly appreciated.

nazzy

When you are submitting your 2017 IT Return, prior to 31/10/18, you will indicate that you are ceases with effect from whatever date. In the meantime, if you are registered for VAT or as an Employer, you should deregister those.

Your PAYE Employment should be registered on a week one basis, this means it will basically tax you as if it was 1st of January getting paid, i.e if you have unused credits and cut off point for the year to date, it ignores it. So there's more chance of you claiming a refund than bring stung for tax when you file your 2017 IT Return. Depends entirely on your situation though.

You should ring the PAYE helpline to check your credits. It could be emergency tax if you did not complete a 12A. If you register for 'My Account' -on revenue.ie, you can see your details there.

If you have an accountant, I would just run it by them. You've still another return or two to complete before the IT side of things is all sorted out.

billyduk

nazzy wrote: »

When you are submitting your 2017 IT Return, prior to 31/10/18, you will indicate that you are ceases with effect from whatever date. In the meantime, if you are registered for VAT or as an Employer, you should deregister those.

Your PAYE Employment should be registered on a week one basis, this means it will basically tax you as if it was 1st of January getting paid, i.e if you have unused credits and cut off point for the year to date, it ignores it. So there's more chance of you claiming a refund than bring stung for tax when you file your 2017 IT Return. Depends entirely on your situation though.

You should ring the PAYE helpline to check your credits. It could be emergency tax if you did not complete a 12A. If you register for 'My Account' -on revenue.ie, you can see your details there.

If you have an accountant, I would just run it by them. You've still another return or two to complete before the IT side of things is all sorted out.

Thanks for your response.

I can't register for 'My Account' as I already have a ROS account.

I wasn't an employer, but I will de-register for VAT.

I'll just have to wait to see what the payslip says to find out what happened.

Calahonda52

billyduk wrote: »

Thanks for your response.

I can't register for 'My Account' as I already have a ROS account.

I wasn't an employer, but I will de-register for VAT.

I'll just have to wait to see what the payslip says to find out what happened.

You can access all that My account stuff from within Ros, look among bottom of first page after login

billyduk

Calahonda52 wrote: »

You can access all that My account stuff from within Ros, look among bottom of first page after login

Got it. Its under PAYE Services at the end. Cheers!