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Help me understand my notice of assessment

  • 25-05-2019 10:34am
    #1
    messinkiapina
    Registered Users, Registered Users 2 Posts: 2,167 ✭✭✭


    I was working full time as a PAYE employee up until September 2018. I was laid off at that point and earned a small amount of money (e1500) between then and the end of the year, through self employment.

    I submitted a tax return last month to declare this e1500 earned on top of my PAYE earnings and have received a notice of assessment. I cannot figure out whether this document means I'm owed tax back, or I owe them tax?

    To me, the 'Amount of tax overpaid for this period' being a minus value looks like they're saying I owe them? I can't understand how that could be though when I got laid off in September and only earned 1500e between then and the end of the year.

    I attached a screenshot. Hoping someone more familiar with this document can tell me if that's saying I've overpaid or underpaid.


Comments

  • #2
    CiboC
    Registered Users, Registered Users 2 Posts: 541 ✭✭✭CiboC


    It says it's an overpayment at the bottom, (this overpayment will be dealt with....).

    Expect a nice cheque in the post, happy days!


  • #3
    messinkiapina
    Registered Users, Registered Users 2 Posts: 2,167 ✭✭✭messinkiapina


    CiboC wrote: »
    It says it's an overpayment at the bottom, (this overpayment will be dealt with....).

    Expect a nice cheque in the post, happy days!

    Thanks. Was a little bit confused why they used a minus value for the amount of tax overpaid, but it wouldnt make sense that I would owe them!


  • #4
    dennyk
    Registered Users, Registered Users 2 Posts: 1,784 ✭✭✭dennyk


    Yep, that's an overpayment and you'll be getting a refund shortly. What likely happened is that your taxes were being withheld throughout the year based on what you would have owed on your full annual salary; due to the way the marginal tax brackets work, when you left employment in September it ended up reducing your taxes owed for the year to less than what had already been withheld, even with your little bit of non-PAYE income added in.


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