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Irish tax year

  • 01-12-2004 10:29pm
    #1
    L5
    Closed Accounts Posts: 2,951 ✭✭✭


    Would i be correct in thinking the tax year runs from january to december?
    If i have just after exceeding my tax free allowance for the current year recently, will it be reset in january ?
    thanks


Comments

  • #2
    frodi
    Registered Users, Registered Users 2 Posts: 520 ✭✭✭frodi


    Yes Irish tax year id 1/1/xx to 31/12/xx. Income tax is based on earnings between those two dates less tax free credits.


  • #3
    L5
    Closed Accounts Posts: 2,951 ✭✭✭L5


    frodi wrote:
    Yes Irish tax year id 1/1/xx to 31/12/xx. Income tax is based on earnings between those two dates less tax free credits.


    ok, so say i earned around 13,000 between those 2 dates, and had just started to have to pay tax as i exceeded my tax free limit, once i hit new year will my tax credits revert back to zero do you think?
    thats more what im asking.
    thanks


  • #4
    frodi
    Registered Users, Registered Users 2 Posts: 520 ✭✭✭frodi


    Yes new tax year, earnings to date is zero , tax free credits start all over again.


  • #5
    L5
    Closed Accounts Posts: 2,951 ✭✭✭L5


    frodi wrote:
    Yes new tax year, earnings to date is zero , tax free credits start all over again.

    great ! thats what i wanted to hear


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