Salary Calculation

Sparky1972

Hi All,

Just need some advice on my latest payslip as I think I am been way over taxed. I contribute 20% into company pension scheme.

Let me breakdown the details

Gross Pay: 6923, VHI BIK: 314

The payslip shows deductions: Tax: 2475, PRSI: 290, USC: 599

The net pay is 2175

This doesn't appear right to me.

PS. I have rounded the figures for ease. The pay period is for 4 wks.. so 13 in a year.

By my calculations, the net should be in the region of 3700. Any comments.

ari101

Are you being emergency taxed?

Your PRSI looks right, but USC and PAYE seem high.

If it was just PAYE that seemed high I'd consider whether some of your tax bands and credits had been transferred to a spouse in error, but the USC can only be due to an emergency basis, I think.

Check on Revenue MyAccount what your tax credit cert says and if they do not appear to be correctly allocated to this job, ask Revenue to amend.

Deagol

If you're contributing 20% to the pension of your gross - that's 1384 straight away. Tax is roughly 33% at that rate (just RoT i use). Take off USC etc, and I'm getting something not a million miles away from the figures you give. USC and PRSI both look correct to me (PRSI is 4%, USC 8% I think?).

Only thing that's strange is you don't appear to be getting any credits back. Is this a new job and you're on emergency tax? Hopefully, someone better with tax will be on to explain better!

downtheroad

PAYE looks very high.

Google pwc tax calculator. I put in your rough numbers and it gave a monthly net pay of circa €3500

namenotavailablE

Figures seem high and I don't quite see them aligning with emergency rates (quite close to such values if emergency rates applied but not exactly right).

My spreadsheet (taxcalc.eu/monthlyss) shows the following: