Affordable housing - so near but so far!

P

Po' Boy

Registered User
Messages
29
Hi all
I'm new here so I'm hoping someone can help me cos I'm all out of ideas! Basically, I earn 42,000 a year and am single so I'd be buying a house by myself. I got my raise halfway through this year and so my P60 says I earned 40,250 in 2005. Affordable housing eligibility is based on your P60 for last year, and although they've raised the threshold to 40K, I am 250 euro over this. I called them and there's no way they're making an exception. I'm really upset about this because the max. I can get by myself is around 230,000 with rent allowance and I've been looking for months for something okay at this price but I can't find it.
Does anyone know of a way I could get rid of this 250??? is there anything I coudl say to affordable housing that would mean this 250 euro is waived?? Any ideas?? Anyone!??:)
 
Po' Boy said:
I got my raise halfway through this year
Click to expand...
You mean half way through 2005?
and so my P60 says I earned 40,250 in 2005.
Click to expand...
Is that what you actually earned?
Does anyone know of a way I could get rid of this 250???
Click to expand...
If you actually did earn €40,250 in 2005 then there is no way that you can remove this from your 2005 P60 as far as I know.
 
My salary now is 42000, but it was 37000 until around May of 2005. So the difference between the two means I earned 40,250 last year. I know you can't change time in that I did actually earn that money but is there a way that my employer could say the P60 was wrong and they forgot to take 300 quid out for something?? I know I'm clutching at straws, it's just so annoying to have to back out of the scheme because of 250 quid.
 
Po' Boy said:
but is there a way that my employer could say the P60 was wrong and they forgot to take 300 quid out for something?
Click to expand...
If you actually earned €40,250 then to change the P60 to state otherwise would be illegal.
 
Just make a post dated AVC payment up to 15% of your gross salary and and then ask for a P21 Balancing statement fromt he tax office which will show your income for last year as below 40,000K. The P21 can be submitted instead of the P60.
 
Really sorry - I know nothing about this kind of thing. Can you explain that to me Bull?
 
Bull is suggesting that if you make a pension contribution (AVC = Additional Voluntary Contribution) of up to 15% (or whatever your limit is) then you can get Revenue to issue a [broken link removed] after you claim tax (and PRSI) relief on this contribution which will reduce the P60 total earnings figure by the amount of the pension contribution. If this is all Greek to you then you should get independent, professional advice.
 
AFAIK you must submit your balancing statement AND your P60, and its the P60 figures they use. This could vary from county to county though.
 
which will reduce the P60 total earnings figure by the amount of the pension contribution.
Click to expand...

Just wondering why this would reduce gross pay on the P60? You've still earned the money, just used it to pay a pension.
 
I meant the P60 figure would be reduced by the pension contribution amount and this lower figure would appear on the P21. I didn't mean to imply that the P60 would be changed. Note that I was just attempting to clarify Bull's comments and don't really know all the ins and outs of P60s, P21s and if this suggestion is of any use at all in the context of the original query.
 
Bull said:
Just make a post dated AVC payment up to 15% of your gross salary and and then ask for a P21 Balancing statement fromt he tax office which will show your income for last year as below 40,000K. The P21 can be submitted instead of the P60.
Click to expand...
I just received my P60 and the total pay figure excludes pension contributions.
 
ClubMan said:
I just received my P60 and the total pay figure excludes pension contributions.
Click to expand...

I'm almost sure that my P60 included my own AVC pension contributions (although it did exclude the employer's contribution). Does anyone know which is correct. Should total pay on the P60 include or exclude my own pension contributions?
 
You must log in or register to reply here.
Back
Top