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

Understanding USC on Bonus / Backpay

  • 08-04-2023 11:05pm
    #1
    Fake Tales
    Registered Users, Registered Users 2 Posts: 90 ✭✭


    I'm trying to understand my paycheck better and have a spreadsheet to calculate PAYE, and USC. I can usually recreate what is on my pay slip.

    However I get a yearly bonus and also a week with a pay increase backpay. This puts me into the top band of USC (8%) for that 2 week period because the payroll system thinks that is my standard pay. I am normally in the 3rd band (4.5%) of USC.

    Bonus and backpay included I don't make it into the top rate of USC for the year. So how do companies generally address this? Does it get evened out at the end of the year? D I need to claim taxback?

    Right now I would be better off if I had got my pay increase in January as opposed to the difference all together in one payslip.



Comments

  • #2
    Xander10
    Registered Users, Registered Users 2 Posts: 5,307 ✭✭✭Xander10


    It will even out over the year



  • #3
    SureYWouldntYa
    Registered Users, Registered Users 2 Posts: 7,799 ✭✭✭SureYWouldntYa


    It will even out over the next few payroll returns

    For the next payroll return, the system will see you have overpaid USC and there will either be a reduction in the USC you need to pay for the week or there may possible be a refund of USC due depending how much it is



Advertisement