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PAYE Underpayment Shared

  • 24-10-2018 4:15pm
    #1
    eggerb
    Registered Users Posts: 379 ✭✭


    I submitted a Form 12 in the last few days declaring additional non PAYE income. I received a P21 and details of the underpayment I was expecting.

    The "Treatment of Result" section of the P21 stated that the underpayment would be "Collected by reducing your credits in future years €729.46 yr 2019; €729.46 yr 2020". That's fine; I was expecting that. I logged into myaccount today and see all the credits I was expecting. However, there is an additional credit with a negative figure titled "PAYE underpayment Shared". It had a figure of -€268.06 under both my profile and my wife's.

    Firstly, I can't reconcile how they got to the €268.06 (aggregate €536.12) figure. It might be related to the fact that the underpayment is made up of USC and PAYE? Does anybody have any thoughts on how Revenue arrived at the €268.06?

    Secondly, will this mean that my wife's part-time few bob* is going to be stung for my underpayment? I wouldn't be worth it ;).

    * It's only a few bob for a few hours so if she doesn't use up her full Employee Credit in a given year, does that mean I could effectively use the remaining part of her Employee Credit of 1650 to clear part of my additional tax bill? Happy days of so!


Comments

  • #2
    arriba
    Registered Users, Registered Users 2 Posts: 15 ✭arriba


    To get the proper answer regarding the €268.06 (x 2), your best bet would be to contact Revenue. Rather than it being an additional credit, it could be a reduction in this year's credits due to another underpayment in a previous year, which means it's being paid off this year. Have a look at your 2018 tax credit certificate and see if it's listed there, too. But, as I said, contact Revenue to see what the story is, as mine is just an assumption and could be totally wrong.

    As for your wife's Employee tax credit, it's not a transferable credit, which means any surplus cannot be transferred to you.


  • #3
    eggerb
    Registered Users Posts: 379 ✭✭eggerb


    arriba wrote: »
    To get the proper answer regarding the €268.06 (x 2), your best bet would be to contact Revenue. Rather than it being an additional credit, it could be a reduction in this year's credits due to another underpayment in a previous year, which means it's being paid off this year.

    It's a negative credit so it's effect will definitely be to reduce my available credits and hence me pay the underpayment over two years. I totally expected that per the notice under Treatment of Result on the P21 and previous years' experience. What I wasn't expecting is for it to be shared.
    Have a look at your 2018 tax credit certificate and see if it's listed there, too.

    Yep. It's listed there but only under my credits. It's net effect is to reduce the credits available to me. It could be a presentation issue in the PAYE my account screen. Ultimately, it's the Tax Credit Cert that would be used to calculate tax due.


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