Income Levy on redundancy payment

L

linehad

Guest
Hi there I wonder if someone can tell me if the income levy is applicable to the gross amount of a redundancy payment or the is it just the taxable amount of the payment. I tried to look it up but could only see that the health levy only applies to the taxable portion.
Thank you in advance.
 
It is only on the Taxable portion. If your taxable amount is significant, it is likely you will overpay the income levy as it is applied on a week/month 1 basis. You will be able to reclaim the overpayment at the start of 2011 by applying directly to the revenue commissioners.
 
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