Change personal allowance to second job

eli__

Hi

I've recently started a second job for work placement (college). I have another job (my first one )but I only work like 30 hours per year. I'll be earning more in my second job so I would like to change the personal allowance ( where you earn under 13 k or something and pay no tax ) to my second job via ROS. Is this possible? and if so how. I apologize for any ignorance but I've tried googling around and haven't found anything.

Calahonda52

The personal allowance to which you refer is now known more commonly as a tax credit, at 1650, is just that.

If you have no other tax credits, allowances or deductions you can have income of 8,250 before you pay tax, as follows
Lower rate of tax is 20% so 20% of 8250 is 1650 less tax credit of 1650 = zero tax paid.
If you are on PAYE, then you get an additional tax credit of 1650.
so now 3,300/.2= 16,250 * 20% - 3,300 less 3,300 = 0

As for moving allowances, credits etc around, go to myaccount within ros

eli__

Thanks for getting back to me man. So e.g. If I make under 8,250 from my two jobs then I don't pay tax. But if I will make over
8,250 then I will have to pay tax.

Calahonda52

eli__ wrote: »

Thanks for getting back to me man. So e.g. If I make under 8,250 from my two jobs then I don't pay tax. But if I will make over
8,250 then I will have to pay tax.

Not if you have more tax credits/allowances/deductions.
Are you being paid as a PAYE worker, if so then u get 3,300
Have you a tax credits etc cert from Revenue in ROS/my account?

mogilvie

Hi eli__

So there are a couple of 'taxes' that you are potentially liable for here.

You will need pay Income Tax based on your income, tax credits, and standard rate cut off point. Tax credits are related to your circumstances, which you self declare via the Revenue's myAccount app. Make sure you look into relief for college fees. You can also allocat the credits and cut of points to different jobs if you wish the tax to be accurately proportioned to your income from each job.

USC has a €13,000 exemption. There is an anomaly, that if you earn under this amount annually then you pay no USC. However, if you go 1 cent over then you get taxed €79. See thread here.

PRSI has a minor anomaly, but there are tax credits that come into play such that you're not penalised for earning more than €352 per week. See thread post here

Income Tax and USC are often assessed cumulatively, so if you work more hours one week, and fewer another, then the amount owing each pay period changes. You may even get refunds.

PRSI is always assessed on the period week earned. So if you have a week over €352 then you will pay PRSI.

Regards,
Mark
https://parolla.ie

eli__

Thanks for all the replies. I completely misunderstood the USC charge, I rang revenue today and they sorted it out. I was taxed way too much from my second job from last month's pay and they put me on a cumulative basis meaning I should get it back next time I get paid. From what I can gather some new changes were implemented this year and that was a factor.

I appreciate all the help though !