Redundancy taxback

Video · 16-09-2015 10:03PM #1

I was made redundant as my company closed in november 2013, am i entitled to tax back from the year of 2013? i recieved a redundancy payment after this but im curious if i'm entitled to anything else or any other taxback allowances, i genuinely don't have a clue about this stuff so any information of claims back would be great.

Carawaystick · 17-09-2015 03:13PM

You need to look up about redundancy payments and how they are taxed, in relation to your redundancy payment.
Assuming the redundancy payment is accounted for properly, if you were to leave a job in November, you should be due some tax back, as your employer will have split your credits out over the year, so you will have used 10/12 or 11/12 ( or 43/52 to 47/52 if paid weekly) leaving somewhere between one to two months credits to get back.

If you got Job seekers benefit, then that's taxable income, so that eats into any refund to you.

Reduncancy payouts are taxed more these days but it used to be something like
statutory redundancy - tax free
10100 ex gratia payment - tax free and another grand or so per years of completed service tax free.

up to date revenue details are
http://www.revenue.ie/en/tax/it/leaflets/it21.html

Redundancy taxback

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