2011 income tax changes
- Thread starter wino
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deadlyduck
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Spreadsheets available here: http://taxcalc.eu/monthlyss/
Likely causes of a drop in pay include the reduction in tax credits (some were lowered, others were abolished) and standard rate cut-off point, replacement of the Health & Income Levy with the Universal Social charge (particularly if you are earning under €26000), impact of tax changes to people holding a full medical card/ single parents [these categories were previously exempt from certain deductions but are now no longer totally exempt], (if married) you might have transferred some tax credits to your spouse, the Revenue Commissioners might be collecting a prior year underpayment by reducing your annual tax credits, you might be on emergency tax if you changed employee but didn't hand in your P45.
Likely causes of a drop in pay include the reduction in tax credits (some were lowered, others were abolished) and standard rate cut-off point, replacement of the Health & Income Levy with the Universal Social charge (particularly if you are earning under €26000), impact of tax changes to people holding a full medical card/ single parents [these categories were previously exempt from certain deductions but are now no longer totally exempt], (if married) you might have transferred some tax credits to your spouse, the Revenue Commissioners might be collecting a prior year underpayment by reducing your annual tax credits, you might be on emergency tax if you changed employee but didn't hand in your P45.
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Would have to wonder about an accountant who can't find out the changes in the last budget. If he can't figure out why your salary is down can he not find out from Revenue. You're paying him and you get to do the leg work
