Irish Tax: Earned Income tax credit

Introduced in January 2016, the Earned Income Tax Credit can be claimed by self-employed workers in Ireland.

In Budget 2018, we saw the Earned Income Credit raised from €950 to €1,150.

The credit applies to self-employed individuals and entrepreneurs as well as to owner-directors whose salaries don’t qualify for the normal PAYE employee tax credit of €1,650.

So, if you run your own business or trade, you should be able to...

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Related topics : claim tax credits ireland / self employed tax return / income tax return form / find tax returns for a business

Irish PAYE Guide. Tax Credits/allowances and Reliefs.

As a PAYE taxpayer, you may be entitled to certain tax credits, reliefs, and allowances.

Tax credits reduce the amount of tax you pay during the tax year. Some credits are allocated automatically like the PAYE tax credit and others you must apply for, like the Home Carer’s tax credit.

Tax reliefs reduce the income on which you pay tax, which may result in a refund of tax paid for things like medical expenses and nursing home fees. The...

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Related topics : claim tax credits ireland / income tax allowance

Irish PAYE Guide. The Basics of PAYE.

Most employees in Ireland pay tax through the Pay As You Earn or PAYE System. This means your employer deducts income tax, USC, and PRSI from your salary and submits them to Revenue each time you’re paid.

USC or Universal Social Charge is a tax on gross income and you’ll pay this if you earn over €13,000 per year. PRSI or Pay Related Social Insurance is deducted from your wages as a contribution to the social insurance fund and most...

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Related topics : how much tax should i pay / claim tax credits ireland

Ireland AM - 2017 PAYE Tax Interview with Barry Flanagan

TV3 interview where Barry discusses Medical Expenses, Home Carer Tax Credit, Tuition Fees, Overpaid Tax, and Flat Rate Expenses.

REMEMBER! December 31st 2017 is the last time to claim a tax refund for 2013!

Unreimbursed Medical Expenses - doctor, prescription, physiotherapy, ambulance fees, non-routine dental expenses.

If you changed jobs in the last 4 years, it is worth checking if you are due a tax refund, as your new payroll provider may have made a mistake in calculating your tax and...

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Related topics : tuition tax credits 2017 / tax refund calculator 2017 / ireland tax calculator 2017