According to this article, the PUP 2020 amount, will be updated on the 2020 tax return on January 15th, when Revenue issue “preliminary statements”, so this explains why some of us have noticed the PUP has not been updated on there.
This process, also separates out, the tax liability on PUP as a standalone item, as one can opt to repay this part of your liability over 4 years, commencing in 2022, or pay it in full now.
Its because a sizeable chunk of those who received the PUP, will have either a tax & usc liability, or both.Whereabouts on form 11 should the 2020 PUP amount be listed?
I don't understand how there could be a standalone tax liability on PUP; if a recipient is on the higher rate of €350 from April to December(c.39 weeks) it would amount to €13650, which in itself would be fully offset by individual tax credits?
Did anyone actually get the liability cert. mine is showing as 'available shortly' since last Saturday.
Its because a sizeable chunk of those who received the PUP, will have either a tax & usc liability, or both.
Is it possible to manually enter the amount of PUP received in 2020 rather than wait for Revenue to prepopulate the relevant field?I use the online tax return.
As previously indicated, the PUP taxable amount, is not expected to be uploaded by Revenue until January 15th, it should be appearing in section 3
Yes, you can, enter the amount in the box, however usually better, to wait for revenue to reconfirm the amount, which should be Friday of next week.Is it possible to manually enter the amount of PUP received in 2020 rather than wait for Revenue to prepopulate the relevant field?
It’s also worth noting that approximately 143,000 PAYE taxpayers have already submitted income tax returns for 2020 which, in many instances have included claims for additional tax credits such as health expenses, nursing home fees and contributions made to an AVC. These additional credit amounts will be taken into account when calculating the end of year position for these taxpayers and are reflected in the provisional statistics. This is one of the reasons why we are seeing some larger overpayment amounts.
There is a discussion on Boards.ie, all about the SOL,
many people are expecting the tax assessments to be overturned, similar to the water charges.
I know this is crazy talk. Revenue are autonomous, and you would be better negotiating with a brick wall.
It shows the general lack of common sense out there, as this has been flagged for months.
This will take a lot of disposable income out of the economy.
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