Leave job mid year - tax impact

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guerngirl

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Hello, if someone earning 180k gross (120k salary 60k bonus) leaves their job in the middle of a tax year, would they be entitled to claim back 50% of tax paid that year? How much could they expect to receive back in overpaid tax if they didn’t work for the rest of that tax year?
Thank you.
 
It's a lot less than 50% unfortunately.

For income tax, you'll get the remainder of your tax credits, and 20% of your unused tax bands. If you left on 30th June that'd be 5,775 for a single person. It would differ if married and credits / bands have been shared differently.

There would also be a refund of USC, but it's too early for me to calculate it!

There is no refund of PRSI.

Take a look at payslip. Use one of the below calculators to calculate what tax would be if the salary year to date was for full year. Compare to tax deducted year to date, and it'll give an idea of refund.

There might be scope to make additional tax relieved pension contributions in the circumstances.

Income Tax Calculator | Deloitte Ireland

Use Deloitte’s income tax calculator to estimate your net income based on the provisions announced in the latest budget.
services.deloitte.ie services.deloitte.ie

www.pwc.ie

Income tax calculator 2024

Use the interactive income tax calculator to estimate your tax position for the coming year in light of the measures announced in Budget 2024.
www.pwc.ie www.pwc.ie

Irish PRSI PAYE Tax Calculator Ireland Budget 2023 2024 2025 Tax Refund karl grabe taxback

PRSI PAYE indicative tax calculator for Ireland
taxcalc.eu taxcalc.eu
 
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