Earned more.....ended up with less

Khublei

Registered User
Messages
70
Hello all!!

Wondering if you all can help me out here. My taxes are a mess. I'm a teacher, paying the usual PAYE. But then I tried to do the right thing and register a company to put grinds and translation work through, but that has meant no balancing statement at the end of the year until I've figured out tax returns (don't earn enough to pay for accountant).

Payslip 1:

Earned 895.26 gross

Deductions:
PAYE 88.47
PRSI 35.81
USC 48.00
Pen Related 22.22
Pension grouped 13.13
1.5% SP 13.43
Total Deductions: 221.36

Nett: 673.90

Payslip 2

Earned 863.28 gross

Deductions:
PAYE 53.67
PRSI 34.53
USC 45.77
Pen Related 19.02
Pension grouped 12.95
1.5% SP 12.95
Total Deductions: 178.89

Nett: 684.39


So my question is, how did I earn more but get less. I thought tax was done on a percentage of earnings. Never thought I would end up with less from working more. The first one is from December - January of this year. Did something change in January? The second one is the most recent.

Would appreciate any help. Or if anyone has suggested reading/websites for me I'm all ears!
Thanks
 
Without looking your payslips and details of you tax credits and standard rate cut off it will be difficult to give an answer.

The tax year starts on 1 Jan.
 
The company you registered - is that the company that,s paying you / providing you with payslips ?

Who's doing the PAYE/PRSI?
 
The company you registered - is that the company that,s paying you / providing you with payslips ?

Who's doing the PAYE/PRSI?

No, I'm a teacher and pay PAYE/PRSI with that.

I registered the grinds/translation but haven't done my first tax return with that yet.
 
Without looking your payslips and details of you tax credits and standard rate cut off it will be difficult to give an answer.

The tax year starts on 1 Jan.

Well I'm single, unmarried so that's the only tax credit I get. I'll have to see if I can get to the bottom if this somehow. Do tax offices still do a drop in service?
 
So you normally get 2 tax credits. The personal credit €1,650 and the PAYE credit of €1,650.

So I would imagine that
860 x 20% = €172
Less credits €126.92
PAYE €45.

So you need to look at your cert of tax credit and standard rate cut off to see why your credits appear to be low.
 
So you normally get 2 tax credits. The personal credit €1,650 and the PAYE credit of €1,650.

So I would imagine that
860 x 20% = €172
Less credits €126.92
PAYE €45.

So you need to look at your cert of tax credit and standard rate cut off to see why your credits appear to be low.

I've never heard of this PAYE credit. Must look into this. Where can I get this tax cert? Tax office I suppose?
 
Register for , very good site, once registered you can make changes, you will not get a P21 until you file income tax returns due Oct 31st annually, a little later than that if you use ROS, Revenues online service.
 
Your payslips are for different tax years. The Revenue send you out a statement each year with your tax credits for the year. if they are incorrect, you can have them amended.

Your grinds company won't affect your teaching salary unless you transfer your tax credits to your company.

By the way, you can have a tax return done for €250. Sometimes it's better to pay an expert...
 
Try my spreadsheet net pay calculator http://taxcalc.eu/monthlyss
It might help you get a better handle on your situation. However, as noted earlier, you'll need to enter details for all pay since January to get an accurate picture.
 
Why did you register a company? You can just file as a sole trader - declare the additional income. Limited liability isn't so important and a company is expensive to administer
 
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