Have I overpaid Tax, Advice appreciated

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Loki1974

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I am a PAYE worker but also have an investment property, so i file a Form 11 every year.
I participate in a salary sacrifice scheme in work, whereby i purchase circa €6000 of shares using part of my salary and bonus. I do not pay tax on the shares invested if kept for 3 years. It has just occurred to me that the form 11 does not reference the salary sacrifice, or else i have overlooked it. .So when i am paying tax on my rental profits , it is recalculating what i owe taking into account my PAYE pay (as per my employment summary) and my rental income, but not taking account that i have bought shares under a salay scaafice scheme. I am now worried that i have been overpaying tax for the past few years. If i have not been mentioning the salary sacrifice on the Form 11, have i overpaid tax. Would really appreciate some feedback . thanks
 
What do you mean by "tax on the shares"?
Income tax? CGT? CAT?

You seem to be asking if the income paid into the salary sacrifice share scheme is tax free?
I would be very surprised if that was the case.
 
I do not have to pay income tax on €6000 of salary/ bonus which I purchase the shares with. My concern is that whilst I get relief when I purchase the shares, subsequently when filing a Form 11 to pay tax on rental income, both my PAYE income and my rental profit is reconciled again using the combined goss figure, but does not take into account the relief I got on the salary sacrifice, because there is no mention of salary sacrifice on the Form 11. Hope that helps in clarifying.
 
Loki1974 said:
I do not have to pay income tax on €6000 of salary/ bonus which I purchase the shares with. My concern is that whilst I get relief when I purchase the shares, subsequently when filing a Form 11 to pay tax on rental income, both my PAYE income and my rental profit is reconciled again using the combined goss figure, but does not take into account the relief I got on the salary sacrifice, because there is no mention of salary sacrifice on the Form 11. Hope that helps in clarifying.
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When you look at your Employment Detail Summary in your Revenue MyAccount for 2021; can you see the 6000 figure recorded anywhere? Can you see a 6000 euro difference between your gross pay and your pay for income tax?
 
It might be irrelevant unless it drops you below the 20% cut off threshold. If deducting the 6k from your salary still leaves you over the cut off you are going to have to pay tax on all the rental profits at the higher rate anyway.
 
I'm no expert but (disclaimer) - You need to check your 'Taxable pay' from your employment on the form 11. As Gordon stated it should/could be sorted somehow by payroll there.
 
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