What will my income be?

I have just got a new job and being completely useless at calculating tax issues, would appreciate some advice on what my take home pay will be. The annual salary is Eur 40k. Although married, my husband has recently become self employed and is taxed on a self assessment basis. I have now opted to be independantly assessed.

I got a determination of tax credits earlier in the year but that still included credits for himself even though I notified the tax office of the independant assessment, any suggestions?

Gross Pay €40000

PRSI Class A

Personal Tax credit 1630
PAYE Tax credit 1490
Total Tax credit 3120

Standard rate cut off point 32000

--------------------
Your pay might look like this:

PAYE: 6640
Employee PRSI: 2135.84
Employer PRSI: 4300.00

Nett Pay €31224.48


(Calculated using Payback payroll software www.payback.ie)

umop3p!sdn said:

Gross Pay €40000

PRSI Class A

Personal Tax credit 1630
PAYE Tax credit 1490
Total Tax credit 3120

Standard rate cut off point 32000

--------------------
Your pay might look like this:

PAYE: 6640
Employee PRSI: 2135.84
Employer PRSI: 4300.00

Nett Pay €31224.48


(Calculated using Payback payroll software www.payback.ie)

Click to expand...

Thanks Umop, that's a great help.

Don't forget to make sure that you are claiming all credits/allowances available to you. See here for a brief summary of the more common ones:

Common PAYE tax credits and reliefs

ClubMan said:

Don't forget to make sure that you are claiming all credits/allowances available to you. See here for a brief summary of the more common ones:

Common PAYE tax credits and reliefs

Click to expand...

Thanks clubman for the tip but I think the only allowance available is for bin charges!!!

This link might help you calculate your take home pay (gives monthly pay)