Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Can I change the allocation of tax credits and thresholds?

  • 06-01-2019 4:05pm
    #1
    Ally Dick
    Registered Users, Registered Users 2 Posts: 12,741 ✭✭✭✭


    I am the proprietary director of a limited company. I am also an employee, and so is my wife.
    I take a salary from the company. My wife takes a much smaller salary - as she has her own business as well.

    I got the Tax Credit Certificate for 2019, and the tax credits and tax threshold allowances are much more heavily weighted in favour of my wife.

    I use Sage for payroll software. Is it ok for me to allocate the tax credits and thresholds as I see fit e.g. give myself more of the tax credit and thresholds?

    Does it have any impact on the end of year situation regarding underpayment/overpayment of tax?


Comments

  • #2
    myshirt
    Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    You have to process payroll in accordance with the tax credit certificates.


  • #3
    Tow
    Registered Users, Registered Users 2 Posts: 9,222 ✭✭✭Tow


    Log onto MyAccount/ROS to change your tax credits/allowances your self. If the payroll does not use the RPN values as supplied they can fine you 4K per instance. Most of the RPN values are sent back to Revenue on each Payroll Submission, so they may eventually notice..

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



  • #4
    Ally Dick
    Registered Users, Registered Users 2 Posts: 12,741 ✭✭✭✭Ally Dick


    Tow wrote: »
    Log onto MyAccount/ROS to change your tax credits/allowances your self. If the payroll does not use the RPN values as supplied they can fine you 4K per instance. Most of the RPN values are sent back to Revenue on each Payroll Submission, so they may eventually notice..

    Thank you. I fixed it up on MyAccount. I have given myself the bigger allowances, as my income is significantly higher than my wife's.


Advertisement