Hi all
I have to fill out a Form 12 because I am a director in a company. I have 2 incomes and my wife has one. All of them are run through the PAYE system, however my wife was made redundant so we will actually have some tax to claim back. The only other income I have was a very small dividend so I am aware I have to make up the difference between the witholding tax and the higher rate which I should have paid.
For 2011, I am unsure as to how USC works. Should it be calculated on our overall income. This would surely give us extra tax back.
I know from 2012 it moves from a week 1 basis to cumulative but do not know how it works for 2011. Do I need to put it on the return at all, like PRSI?
I have to fill out a Form 12 because I am a director in a company. I have 2 incomes and my wife has one. All of them are run through the PAYE system, however my wife was made redundant so we will actually have some tax to claim back. The only other income I have was a very small dividend so I am aware I have to make up the difference between the witholding tax and the higher rate which I should have paid.
For 2011, I am unsure as to how USC works. Should it be calculated on our overall income. This would surely give us extra tax back.
I know from 2012 it moves from a week 1 basis to cumulative but do not know how it works for 2011. Do I need to put it on the return at all, like PRSI?