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Can I claim back unused Tax Credits?

eatsloads · 2006-12-04 17:14:03

I started work in August of this year. I was on emergency tax until I got my tax cert sorted. Can I claim back the tax credits that I didnt use for this year at the end of the tax year or am I paying less tax now because of the unused credits?

04-12-2006 05:14PM

#1

eatsloads

Closed Accounts Posts: 39 ✭

Join Date: May 2006

Posts: 20

I started work in August of this year. I was on emergency tax until I got my tax cert sorted. Can I claim back the tax credits that I didnt use for this year at the end of the tax year or am I paying less tax now because of the unused credits?

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Comments

#2 16-12-2006 11:47PM

shane55

Closed Accounts Posts: 23 ✭

Join Date: December 2006

Posts: 17

at the end of the year subtract your yearly tax credit from the amount of tax calculated for the year to find the Tax payable

eg

Gross 20000 @ 20%
Tax calculated = 4000

Tax credit for year = 3900

Tax payable = 4000 - 3900 = 100

Tax paid = 500

Refund due = 400

Hope this helps

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#3 17-12-2006 11:41AM

walshb

Registered Users, Registered Users 2 Posts: 58,283 ✭✭✭✭

Join Date: May 2005

Posts: 57951

What's this 21%?. Is it not 20% currently?

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#4 17-12-2006 01:56PM

shane55

Closed Accounts Posts: 23 ✭

Join Date: December 2006

Posts: 17

sorry, yes, my mistake, 20%

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