Can anyone help.
My annual rate band subject to 20% tax is €25k which has been allocated to employer. Tax on cumulative basis.
I am taking a regular 4% monthly from a 200k pot and 20% tax is being deducted.
If I take an additional encashment next month of 15k will I be taxed at 20% on all of this ? If not will I get a tax refund on doing a balancing statement at year end as I am entitled to earn up to 42k at 20% this year ?
My annual rate band subject to 20% tax is €25k which has been allocated to employer. Tax on cumulative basis.
I am taking a regular 4% monthly from a 200k pot and 20% tax is being deducted.
If I take an additional encashment next month of 15k will I be taxed at 20% on all of this ? If not will I get a tax refund on doing a balancing statement at year end as I am entitled to earn up to 42k at 20% this year ?