Assistance filling out the Med 1 form

R

rosboy

Registered User
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16
Hi all.

Looking for a little assistance filling out my Med 1 form for last year.

I was self employed for 2013.

I'm a little unsure of filling out the income section. Below are the fields I'm uncertain about, as well as my question:

Total tax deducted - Is this PAYE + PRSI?
Gross pay for USC - This is taxable pay less tax deducted?

Appreciate the help.
 
If you are self employed, how do come to the taxable pay figure.
Should the figure not be gross income as per this from a pdf on the revenue website if u search for USC

3.2 I am self-employed – how do I calculate gross income for the purposes of the
Universal Social Charge?
Gross income is determined after deduction of legitimate expenses directly associated
with the performance of the trade. This is in accordance with the normal principles of
commercial accounting.

You also use the word PAYE: are you self employed or not?
 
ircoha said:
If you are self employed, how do come to the taxable pay figure.
Should the figure not be gross income as per this from a pdf on the revenue website if u search for USC

3.2 I am self-employed – how do I calculate gross income for the purposes of the
Universal Social Charge?
Gross income is determined after deduction of legitimate expenses directly associated
with the performance of the trade. This is in accordance with the normal principles of
commercial accounting.

You also use the word PAYE: are you self employed or not?
Click to expand...

Sorry, I was very unclear. I have a limited company, so would have been filing P30's and and P35 for the year. I paid PAYE, PRSI and USC.
 
Get a copy of your P60 - the figures requested on the Med 1 Form are stated clearly on the P60.

I assume you have your P60 already in order to complete your income tax return.

I'd guess from your initial questions that you might be better off getting an accountant or tax adviser to complete your tax return.
 
rosboy said:
No P60. I would have submitted a P35, but didn't get a P60.
Click to expand...

Is this correct?
You 'control' a ltd company which pays you an income under deduction of PAYE PRSI USC, all of which the company passed on to Revenue.
The rules, with my emphasis, are as follows:

Certificates to employees (form P60) (See sample form P60 template in ) Between 1 January and 15 February the employer must give to every employee who was in their employment on 31 December, a certificate on form P60 showing Total Pay, Tax and PRSI contributions for the year ended on 31 December.

So if I understand your set up, you as the employer has wronged u as the employee by not issuing the P60
 
It does sound that way!

I'm going to check with my accountant to check. I may have taken care of it earlier in the year, but can't recall it now.

Thanks for your input.
 
Ok...just found my P60. Did it at the same time as my P35, but forgot about it. It has the numbers I need. Thanks for everyones help.
 
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