JB, HRI & salary bonus question

Thestones

Hi there,

I got Jobseekers Benefit in 2015, I never adjusted my tax credits at the time and now worried if we do a P21 that we'll owe the revenue tax. My husband has all my available tax credits. I got the JB for 9 months or whatever the allowed time is and that's it. We got some work done last year and year before, about 7k in total which I was going to claim on the HRI scheme, there is maybe a few hundred on health expenses also to claim, would this all cancel out the JB? It would obviously be great if we got some sort of tax credit or refund but if we are looking at a tax liability then I'll leave it! My husband earns about 52k and year but also receives a bonus of 3-4K around April time, he gets taxed heavily the month he gets it, does his tax adjust the following month or is a p21 worth doing taking all into account?

Many thanks

Squatter

Thestones wrote: »

Hi there,

I got Jobseekers Benefit in 2015, I never adjusted my tax credits at the time and now worried if we do a P21 that we'll owe the revenue tax.

My husband has all my available tax credits. I got the JB for 9 months or whatever the allowed time is and that's it.

We got some work done last year and year before, about 7k in total which I was going to claim on the HRI scheme, there is maybe a few hundred on health expenses also to claim, would this all cancel out the JB? It would obviously be great if we got some sort of tax credit or refund but if we are looking at a tax liability then I'll leave it! My husband earns about 52k and year but also receives a bonus of 3-4K around April time, he gets taxed heavily the month he gets it, does his tax adjust the following month or is a p21 worth doing taking all into account?

Many thanks

Was JB your only income for 2015? If so, and assuming that you claimed JB of €188 per week for 39 weeks, the total JB that you received from DSP would have been €7,332.

You would have been entitled to an Employee Tax Credit (formerly known as the PRSI Allowance) of €1650 which at 20% would have been worth €8,250 income to you - this should cover the tax liability that you had for the JB. Of course if you also worked during 2015 then some or all of that tax credit may already have been applied to your salary.

Your husband could not have availed of that tax credit so it should still be there for you. You need to check your and/or your husband's tax credit certificate for 2015.

If you're not already registered for Revenue's' "my account" service then do so - link below - you'll need to do this to claim for HRI in any case, then fill in the details for 2015 - the online form should already show your JB payments in your income details - be sure to add in medical expenses. Then look for a balancing statement

https://www.ros.ie/myaccount-web/register.html?

Thestones

Squatter wrote: »

Was JB your only income for 2015? If so, and assuming that you claimed JB of €188 per week for 39 weeks, the total JB that you received from DSP would have been €7,332.

You would have been entitled to an Employee Tax Credit (formerly known as the PRSI Allowance) of €1650 which at 20% would have been worth €8,250 income to you - this should cover the tax liability that you had for the JB. Of course if you also worked during 2015 then some or all of that tax credit may already have been applied to your salary.

Your husband could not have availed of that tax credit so it should still be there for you. You need to check your and/or your husband's tax credit certificate for 2015.

If you're not already registered for Revenue's' "my account" service then do so - link below - you'll need to do this to claim for HRI in any case, then fill in the details for 2015 - the online form should already show your JB payments in your income details - be sure to add in medical expenses. Then look for a balancing statement

https://www.ros.ie/myaccount-web/register.html?

Thanks a million, yes it was my only income. I do have access online and just went on there but can't see my tax credits, how do I view it? It seems to only have option to request P21 and I don't want to do that until I see what the credits are?..

Thestones

Just to add the reason I was worried was when I gave my husband the available tax credits the lady in revenue said at the time(2014) that if I went on to get jobseekers I should re adjust my tax credits which I then never did!

Turnipman

Thestones wrote: »

Thanks a million, yes it was my only income. I do have access online and just went on there but can't see my tax credits, how do I view it? It seems to only have option to request P21 and I don't want to do that until I see what the credits are?..

Just choose the End of Year Statement (P21) option.

The Revenue computer will simply send you a P21 statement for 2015 that will reveal your income and tax credit details insofar as Revenue has them.

So you'll be able to see whether they gave you the PAYE credit and whether your JB payments are on file. You may well find that everything is OK in which case away you go with the medical expenses and HRI claims (I assume that you have already got your contractor to initiate the HRI process for you?)


If not, then you'll need to input your JB income and claim the PAYE tax credit online using the "Form 12" option.