Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Today the tax day - revenue.

12345679»

Comments

  • #402
    Buddy97mm
    Registered Users Posts: 572 ✭✭✭Buddy97mm


    Banana Republic 1 wrote: »
    Be a pendant...

    Only trying to explain how two things differ, you would be distinctly worse off if you were receiving your tax credits as tax free allowances

    A tax allowance is as different from a tax credit as..............

    a pendant is from a pedant


  • #403
    CH3OH
    Registered Users, Registered Users 2 Posts: 7,413 ✭✭✭CH3OH


    vandriver wrote: »
    The pup is taxable income,it's being taxed.You receive the gross pup in your bank account,and pay the tax by a reduction in scrop and tax credits.
    If you are thinking that your wife can earn x amount tax free ,well she can..by utilizing her tax credits which is exactly what is happening here[/QUOTE


    Thanks Vandriver for replying

    I think it is now a bit clearer to me
    If her income is 15 600 20% equals 3120
    - tax credit of 3120 equals liability of 0

    so they are taking the tax credit off to allow for this 20%
    as the money is going straight to bank

    so in our case it should result in the same overall tax liability


  • #404
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭relax carry on


    Banana Republic 1 wrote: »
    Be a pendant...

    Nope. You've demonstrated you fundamentally don't understand how the PAYE system works. If you don't understand how it works, can you even understand your own payslip.

    This is not taking away from the fact that there may be an error in including an annual figure for your 2021 PUP payments if you aren't in receipt of may PUP for 2021 or you were but it's ceased.


  • #405
    Banana Republic 1
    Registered Users Posts: 3,328 ✭✭✭Banana Republic 1


    Buddy97mm wrote: »
    Only trying to explain how two things differ, you would be distinctly worse off if you were receiving your tax credits as tax free allowances

    A tax allowance is as different from a tax credit as..............

    a pendant is from a pedant

    I was not asking about a the tax credit system, the reduction of my first rate band is my issue.


  • #406
    Banana Republic 1
    Registered Users Posts: 3,328 ✭✭✭Banana Republic 1


    relax carry on wrote: »
    Nope. You've demonstrated you fundamentally don't understand how the PAYE system works. If you don't understand how it works, can you even understand your own payslip.

    This is not taking away from the fact that there may be an error in including an annual figure for your 2021 PUP payments if you aren't in receipt of may PUP for 2021 or you were but it's ceased.

    Take your sanctimonious opinion a stick it up your arse !


  • #407
    vandriver
    Registered Users, Registered Users 2 Posts: 3,468 ✭✭✭vandriver


    Banana Republic 1 wrote: »
    I was not asking about a the tax credit system, the reduction of my first rate band is my issue.

    The reduction of the 20% band is to cover the expected pup payments you may get this year.If you go off pup sometime in the year and back to employment,then your credits/scrop will need to be reallocated to your job.
    If the revenue did not do this,and you resumed employment in say July,and your new job used up all your tax credits for the year,then you'd be back on here next January complaining about a huge tax bill you weren't expecting.


  • #408
    shmeee
    Registered Users, Registered Users 2 Posts: 9,015 ✭✭✭shmeee


    The DSP have sent information to the Revenue which has reduced employees tax credits. When an employee returns to work and signs off PUP the tax credits will amend accordingly as to how long an employee was claiming PUP.

    Employees now on PUP are seeing a tax credit deduction of over €3k on their Credits, while on PUP this will stay there and will then reduce to the correct amount upon ceasing PUP payment.


  • #409
    Mamto5
    Registered Users Posts: 12 ✭Mamto5


    shmeee wrote: »
    The DSP have sent information to the Revenue which has reduced employees tax credits. When an employee returns to work and signs off PUP the tax credits will amend accordingly as to how long an employee was claiming PUP.

    Employees now on PUP are seeing a tax credit deduction of over €3k on their Credits, while on PUP this will stay there and will then reduce to the correct amount upon ceasing PUP payment.
    That is no problem but married people who are jointly assessed need to double check as they are reducing the spouse who is still working SRCOP to 26100 from 44300.


  • #410
    shmeee
    Registered Users, Registered Users 2 Posts: 9,015 ✭✭✭shmeee


    Mamto5 wrote: »
    That is no problem but married people who are jointly assessed need to double check as they are reducing the spouse who is still working SRCOP to 26100 from 44300.

    It knocks on alright, that's the issue.

    Try and get through to the PAYE helpline and stay on the line until you get talking to someone. Once your through, a new RPN will issue to the employer in a matter of minutes with updated tax credits and bands.


  • #411
    Tinkerbell4484
    Registered Users, Registered Users 2 Posts: 596 ✭✭✭Tinkerbell4484


    I just got through myself there, need to wait 5 to 6 weeks for DESP to notify revenue of the pup being ceased to increase the SRCOP? Seems a long time.


  • Advertisement
  • #412
    brianomc
    Registered Users, Registered Users 2 Posts: 693 ✭✭✭brianomc


    Tinkerbell4484 wrote: »
    I just got through myself there, need to wait 5 to 6 weeks for DESP to notify revenue of the pup being ceased to increase the SRCOP? Seems a long time.

    Did they say if people will revert to "normal" tax or "week 1" by any chance?


  • #413
    Tinkerbell4484
    Registered Users, Registered Users 2 Posts: 596 ✭✭✭Tinkerbell4484


    If your off pup, your SRCOP will revert back and so will your tax credits from what I gather. My husband closed his pup claim on 22nd Jan,


  • #414
    collsoft
    Registered Users Posts: 254 ✭✭collsoft


    Everybody will still be on a Week 1 basis for a while yet.

    When your PUP case closes Revenue will perform a final tax calculation on the actual amount of PUP you received and reduce your annual credits by that amount.

    So while your tax credits and SRCOP will be restored, they will be reduced from a normal full year's value.

    For example, lets say you are on €350 for 10 weeks. The tax on €350 per week at 20% is €70 (€350 @ 20%).

    For 10 weeks that a total tax liability of €700 so your annual credits will be reduced by €700.

    So if you are a single person with credits of €3,300 per annum (or €63.46 per week) this would drop to €2600 (or €50 per week )

    I know Revenue are looking to see if employees will be able to return to a normal cumulative tax basis later in the year, but there is some systems development work required to make this happen.
    brianomc wrote: »
    Did they say if people will revert to "normal" tax or "week 1" by any chance?


  • #415
    Tinkerbell4484
    Registered Users, Registered Users 2 Posts: 596 ✭✭✭Tinkerbell4484


    We received my husbands new TCC overnight, and he is back on cumulative.


  • #416
    Banana Republic 1
    Registered Users Posts: 3,328 ✭✭✭Banana Republic 1


    Looks like I was right all along!

    https://www.independent.ie/irish-news/covid-payment-shock-pup-recipients-will-have-to-pay-income-tax-on-the-welfare-benefit-this-year-40073162.html


  • #417
    piwyudo0fhn57b
    Closed Accounts Posts: 50 ✭✭piwyudo0fhn57b


    Site went down for me


  • #418
    Allinall
    Registered Users, Registered Users 2 Posts: 6,835 ✭✭✭Allinall


    Banana Republic 1 wrote: »
    Looks like I was right all along!

    https://www.independent.ie/irish-news/covid-payment-shock-pup-recipients-will-have-to-pay-income-tax-on-the-welfare-benefit-this-year-40073162.html

    It’s no different to anyone on jobseekers who get a job during the year.


  • #419
    Tinkerbell4484
    Registered Users, Registered Users 2 Posts: 596 ✭✭✭Tinkerbell4484


    Banana Republic 1 wrote: »
    Looks like I was right all along!

    https://www.independent.ie/irish-news/covid-payment-shock-pup-recipients-will-have-to-pay-income-tax-on-the-welfare-benefit-this-year-40073162.html
    Yes they are taxing it in real time this year. Once you go back to work and off pup all will revert back, minus the tax you owe from credits


Advertisement