What are Tax Credits?

What are Tax Credits?

What are Tax Credits? Tax credits make up the monetary amount that is taken off your Gross Tax Liability every pay period and works under the PAYE system. Tax Credits are always provided to you as ANNUAL amounts and therefore must be divided by the pay frequency that...
What is a P45?

What is a P45?

P45 Explained Form P45 is a (3-part) physical certificate or document given to you by your employer, when you leave employment, to indicate that they have correctly deducted tax (PAYE), PRSI & USC from your pay in accordance with the instructions provided by...
What is my PPS Number?

What is my PPS Number?

What is my PPS Number? (PPSN) This is your unique reference number for all your dealings with the Public Service e.g. applying to the tax office for a tax credits certificate, applying to the Department of Social Protection for a Social Welfare payment scheme, etc....
What is Notional Pay?

What is Notional Pay?

What is Notional Pay? Values for company provided benefits that are subject to BIK (Benefit-In-Kind) are reported as “notional pay” (NP) on your payslip so that Tax, PRSI & USC can be calculated on them. In other words, notional pay is the value of a...

What is Emergency Tax?

What is Emergency Tax? The Emergency Tax rules must be used by an Employer when: The employer has not received, in respect of the employee, either a Tax Credit Certificate (P2C download via ROS) for the current year or a Form P45 for the current year or previous year...