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Income Tax Self Assessment (Form 11): PAYE and Self Employed earnings
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23-10-2018 7:55am#1[font=Arial, sans-serif]Hi, I wonder if anyone can point me in the right direction with my Income Tax Self-Assessment (Form 11). I am married, separately assessed with no state benefits or other allowances. During the 2017 tax year I was earning PAYE, also doing a little bit of self-employed work too. The self-employment ceased September 2017 (Revenue notified). While completing my self-assessment on ROS.ie (using my P60) I noticed that I had not been paying any income tax on any of my pay slips (is this correct?!). When it came to my final tax assessment this is what I came to on the ‘Calculations’ page: [/font]
[font=Arial, sans-serif] [/font]
[font=Verdana, sans-serif]1 Calculation - Income Tax[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Gross Employment/Pension for Universal Social Charge-Self[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]9508[/font][font=Arial, sans-serif]_______________________________________________________________[/font]
[font=Arial, sans-serif]Cleaning Services-Self[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]799[/font]
[font=Arial, sans-serif]Emoluments-Self[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]9508[/font]
[font=Arial, sans-serif]Total Income[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]10307[/font]
[font=Verdana, sans-serif]Net Position[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Income*[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]10307[/font]
[font=Arial, sans-serif]Total[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]10307[/font]
[font=Verdana, sans-serif]Allowances / Reliefs / Deductions[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Total[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]0[/font]
[font=Verdana, sans-serif]Taxable Income[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Taxable Income[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]10307[/font]
[font=Verdana, sans-serif]Charged To Tax As Follows[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Standard Rate[/font][font=Arial, sans-serif]10307 @ ;20% =[/font][font=Arial, sans-serif]2061.40[/font]
[font=Arial, sans-serif]Amount of tax chargeable for this period[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif] 2061.40[/font]
[font=Verdana, sans-serif]Credits / Reliefs set against Tax on Income[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Personal Credit[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]1650.00[/font]
[font=Arial, sans-serif]Total[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]1650.00[/font]
[font=Arial, sans-serif]Net Tax Liability[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]411.40[/font]
[font=Verdana, sans-serif]PRSI/USC[/font]
[font=Verdana, sans-serif]3.1 Computation – PRSI (self)[/font] [font=Arial, sans-serif] [/font]
[font=Verdana, sans-serif]4 Computation of final liability[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Income Tax[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]2061.40[/font]
[font=Arial, sans-serif]PRSI due self[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]119.68[/font]
[font=Arial, sans-serif]Total amount of tax chargeable for this period[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]2181.08[/font]
[font=Arial, sans-serif]Less[/font]
[font=Arial, sans-serif]Credits set against income tax (shown above)[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]1650.00[/font]
[font=Arial, sans-serif]Additional Credits / Reliefs[/font]
[font=Arial, sans-serif]Universal Social Charge deducted under PAYE[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]47.00[/font]
[font=Arial, sans-serif]Total credits / reliefs[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]1697.00[/font]
[font=Verdana, sans-serif]Total Liability[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Payable[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]484.08[/font]
[font=Arial, sans-serif] [/font]
[font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]On re-examining the Form 11, I noticed that in the 'Personal Tax Credits' section "Employee Tax Credit" with a box "Employee Tax Credit, tick the box if claimed". This box was unticked, so I ticked it and re-calculated my tax:[/font]
[font=Verdana, sans-serif]1 Calculation - Income Tax[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Gross Employment/Pension for Universal Social Charge-Self[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]9508[/font][font=Arial, sans-serif]_______________________________________________________________[/font]
[font=Arial, sans-serif]Cleaning Services-Self[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]799[/font]
[font=Arial, sans-serif]Emoluments-Self[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]9508[/font]
[font=Arial, sans-serif]Total Income[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]10307[/font]
[font=Verdana, sans-serif]Net Position[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Income*[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]10307[/font]
[font=Arial, sans-serif]Total[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]10307[/font]
[font=Verdana, sans-serif]Allowances / Reliefs / Deductions[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Total[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]0[/font]
[font=Verdana, sans-serif]Taxable Income[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Taxable Income[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]10307[/font]
[font=Verdana, sans-serif]Charged To Tax As Follows[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Standard Rate[/font][font=Arial, sans-serif]10307 @ ;20% =[/font][font=Arial, sans-serif]2061.40[/font]
[font=Arial, sans-serif]Amount of tax chargeable for this period[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif] 2061.40[/font]
[font=Verdana, sans-serif]Credits / Reliefs set against Tax on Income[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Personal Credit[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]1650.00[/font]
[font=Arial, sans-serif]Employee Credit[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]411.40[/font]
[font=Arial, sans-serif]Total[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]2061.40[/font]
[font=Arial, sans-serif]Net Tax Liability[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]0[/font]
[font=Verdana, sans-serif]PRSI/USC[/font]
[font=Verdana, sans-serif]3.1 Computation – PRSI (self)[/font] [font=Arial, sans-serif] [/font]
[font=Verdana, sans-serif]4 Computation of final liability[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Income Tax[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]2061.40[/font]
[font=Arial, sans-serif]PRSI due self[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]119.68[/font]
[font=Arial, sans-serif]Total amount of tax chargeable for this period[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]2181.08[/font]
[font=Arial, sans-serif]Less[/font]
[font=Arial, sans-serif]Credits set against income tax (shown above)[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]2061.40[/font]
[font=Arial, sans-serif]Additional Credits / Reliefs[/font]
[font=Arial, sans-serif]Universal Social Charge deducted under PAYE[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]47.00[/font]
[font=Arial, sans-serif]Total credits / reliefs[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]2108.40[/font]
[font=Verdana, sans-serif]Total Liability[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
[font=Arial, sans-serif]Payable[/font] [font=Arial, sans-serif] [/font][font=Arial, sans-serif]72.68[/font]
[font=Arial, sans-serif] [/font] [font=Arial, sans-serif] [/font]
My question is: which of the above calculations are correct? Should I tick the box [font=Arial, sans-serif]"Employee Tax Credit, tick the box if claimed" as I am earning PAYE it would seem correct to do so? Is it correct that I do not have any tax deductions on my pay slip (just some very smally USC/PRSI deductions)?[/font]
[font=Arial, sans-serif]Any help on this would be much appreciated!![/font]0
Comments
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Correct to tick PAYE credit. ROS doesn't automatically do that.
Your original tax credits for PAYE would have been 1650 personal + 1650 PAYE. So between them they exceed the amount needed to cover your PAYE earnings hence no tax there.
On year end your total earnings incl self employment still don't come to enough to be taxed so that's why nil tax.
The employee credit on the computation might look odd at €411.40 but that's all that's needed to bring the net tax to €0 so they don't show the full €1,650.
You would have paid USC at work but your total earnings again are under the USC threshold so that's why you get a credit for that.
The minimum PRSI is €500 and you'd be deemed to have paid €9,508 x 4% at work so the €119.68 PRSI here is to bring the total to that.
It all seems correct.0 -
Correct to tick PAYE credit. ROS doesn't automatically do that.
Your original tax credits for PAYE would have been 1650 personal + 1650 PAYE. So between them they exceed the amount needed to cover your PAYE earnings hence no tax there.
On year end your total earnings incl self employment still don't come to enough to be taxed so that's why nil tax.
The employee credit on the computation might look odd at €411.40 but that's all that's needed to bring the net tax to €0 so they don't show the full €1,650.
You would have paid USC at work but your total earnings again are under the USC threshold so that's why you get a credit for that.
The minimum PRSI is €500 and you'd be deemed to have paid €9,508 x 4% at work so the €119.68 PRSI here is to bring the total to that.
It all seems correct.
Thank you very much Stratvs. So will my payslip automatically start to deduct my tax when I pass the tax free threshold now? I just don’t want any nasty surprises at the end of the tax year!!0 -
YSpanopoulos wrote: »Thank you very much Stratvs. So will my payslip automatically start to deduct my tax when I pass the tax free threshold now? I just don’t want any nasty surprises at the end of the tax year!!
If your tax credits are cumulative, from Jan 2018 then any unused credits "roll forward" and are available in following weeks. If your taxable pay exceeds the cumulative credits available in any week then the employer should deduct tax.
Same happens with USC.
PRSI is always week to week, not cumulative depending on whether you exceed the relevant threshold for the week.
Starting a new year you're back to the beginning again then.0
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