Paying to much tax on wages!!

mark085

Am I paying to much tax on my wages my rate is 21 euro an hour but I'm getting stopped nearly 350 a week overtime just isn't worth it and the company needs me to do it there's a photo of my payslip below any advice on tax would be appreciate because I don't know much about it

Lockedout2

If your gross pay is €1,212 then income tax if €290 (632 x 20% + 580 x 40% - 64) is about right.

PRSI 1212 x 4%= 48 is right.

USC looks a bit high alright.

At €21 per hour all your over time is taxed at 49% so half goes in tax.

CIARAN_BOYLE

Usc is probably miscalculated.

L.Jenkins

You're paying 8% USC on your entire wage weekly, but everything else is okay. So I'd query payroll as to why. It's possible they didn't adjust your rates when they set you up on payroll.

I'd get on to them when possible if I were you.

Geuze

You're paying 36% approx in direct taxes, on annualised earnings of 63k.

It seems a bit high, but I didn't do the sums.

mark085

Thanks for the feedback guys

Heres Johnny

1212 a week means you are taxed 20% on your first 652 euro which is your std cut off rate and 40% on the remaining

20% of 652 is 130 euro and 40% of 560 is 224.

That's 354 a week in PAYE

You have a tax credit of 3300 a year which when you work it out weekly is about 60 euro

Take that away from 354 and you're back at your 290 so yes it is correct

As someone else said have a look at the USC it seems a bit high.

If you're earning that amount and paying that much tax make sure you are funding a pension to get your tax bill down

mark085

Heres Johnny wrote: »

1212 a week means you are taxed 20% on your first 652 euro which is your std cut off rate and 40% on the remaining

20% of 652 is 130 euro and 40% of 560 is 224.

That's 354 a week in PAYE

You have a tax credit of 3300 a year which when you work it out weekly is about 60 euro

Take that away from 354 and you're back at your 290 so yes it is correct

As someone else said have a look at the USC it seems a bit high.

If you're earning that amount and paying that much tax make sure you are funding a pension to get your tax bill down

Thanks very much johnny

Heres Johnny

Thanks very much johnny[/quote]

It's a pain when you work hard and earn well and pay that much isn't it!

The 40% rate starts much too early. And USC was meant to be temporary but is still here!!

mark085

Heres Johnny wrote: »

Thanks very much johnny

It's a pain when you work hard and earn well and pay that much isn't it!

The 40% rate starts much too early. And USC was meant to be temporary but is still here!![/quote]

It's a pain alright not worth doing overtime because it's that bad

2forjoy

Your tax credit cert is on a week1 basis so its important you request a balancing statement in january

L.Jenkins

Here is my workings. I can run it through my own payroll software to verify it, but there's no need. The USC needs to be adjusted.

L.Jenkins

Did you ever get your pay sorted OP?