BIK and Net pay

C

CharlieC

Registered User
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I have tried 2 online TAX calculators to work out my Net monthly pay, namely karl Grabe and hookhead
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For those of you who have BIK is the monetary figure included in the derived figure for NET PAY i.e do they add on the BIK figure to your net monthly pay figure
 
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I don't really understand your question but in case it helps clarify - where BIK is an issue the nominal monetary amount is added to your gross before any deductions are calculated. For example - if you receive BIK worth €2K p.a. then you add this to your normal gross income.
 
Thank you C- just to clarify

I am trying to check if my PRSI and Tax are being deducted correctly

Both online calculators are showing me a higher monthly net pay than I receive.
I have employer funded health insurance and have added that to gross annual earnings to account for BIK

I wonder are the calculators adding the monthly health insurance benefit to my net monthly pay thereby increasing it
 
CharlieC said:
I wonder are the calculators adding the monthly health insurance benefit to my net monthly pay thereby increasing it
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I don't really know what they are doing - sorry. I know that most online calculators don't real with all complex situations so you may not always get exactly the correct answer.

By the way - remember that you can also claim a tax credit in respect of employer paid health insurance premiums even though you are also paying BIK.

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Also remember that paye is calc on a cumulative basis (year to date) and substracted from the previous year to date.
You may have received an amended Certicifate of Credits and SRCOP from revenue that is only now being applied.
 
You could try using this payroll software www.payback.ie to calculate your liability.

This is a trial version that will allow you to calculate your monthly, weekly or annual etc liability.
Alternatively, if you post your figures I'll post the results.

[Note: I'm affliated with Payback Payroll Software]
 
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