Emergency tax problem?

ronano

I should have it sorted by this stage but i fear to check the bank balance,i've read up online and it says when you hit week 5-8 of being on emergency tax your credit hits 'Nil'

what exactly does this mean?

eg. go to rates on this page

http://www.oasis.gov.ie/employment/changing_jobs/change_job_tax_prsi.html#id3118135

penexpers

Emergency tax starts off at the standard rate (20%, I think) and then gradually rises. Credit hitting nil means that it'll be 42%, I think.

leeroybrown

It's pretty simple. Weeks five to eight of emergency tax are taxed at 20% with no tax credits. This means you pay 20% of all your earnings as income tax. From week nine onwards you pay 42% of all your earnings as income tax.

All you need to do are:

1) Get your new employers number and ring your regional tax office (these days it's 1800 numbers and long waits trying to get through) to request a new certificate of tax credits for your employer. They'll have it within a week.
2) Get your P45 from your previous employer (if you have worked during this calendar year) and give it to your new employer.

Doing those two things should see you on normal tax and fully refunded whatever back tax you are owed within a couple of weeks.

gmt

Why is it called emergency tax?

bringitdown

Cause when you see how little your pay is a siren will sound in your brain signalling an emergency...