Quote: pandaboy Sorry now you may have explained this, but what happens when you earn more than €18,300? Like I earned close to 30K last year and I've under €2k to claim in tax. Should I get the full amount? Or a percentage? Does anyone know that if it's a percentage how much it's calculated on?
Fecking recession has me looking for pennies everywhere
LOL, arn't we all!
It depends on what your claiming for..
If you earned 30,000 last year then your tax would be calculated as follows:
30,000 @ 20% (assuming you have the single persons rateband) = 6000
Your tax credits would come into play here. I do
not know your personal circumstances so i am giving you the standard credits of paye 1830 and personal tax credit of 1830 which is equall to 3660.
The 6000 above less the 3660 credits you have = 2340
So you should have paid €2340 in tax last year.
This figure does not change unless you now want to claim extra credits for last year i.e medical expenses, trade union, rent tax credit.
If you claim these and qualify then your credits are increased meaning you should have paid less tax last year.
Am i confusing you? If there is a particular query you have in mind, just PM me and Il reply.