Ireland: More than 600,000 Irish workers could see pay hit in January 2020 due to Revenue review of allowances - - PressFrom - United Kingdom
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Ireland More than 600,000 Irish workers could see pay hit in January 2020 due to Revenue review of allowances

23:45  13 november  2019
23:45  13 november  2019 Source:   msn.com

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How much Income Tax someone pays in each tax year (from 6 April to the 5 April the following year) depends on £10, 600 . You can view Income Tax rates and allowances for previous tax years. New tax bands and allowances are usually announced in the Chancellor of the Exchequer’s Budget

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More than 600,000 workers could be hit with a nasty change to their pay in January, according to Fianna Fail.

The party’s finance spokesman, Michael McGrath, said low and middle-income workers’ allowances could be worst affected following an examination of the system involving more than 600,000 workers in different sectors.

Those workers most affected include nurses and miners in Tara Mines, both of whom have significant allowances.

The Cork South-Central TD said the Revenue website shows the outcome of any changes that will kick in in January and added that it was a “really significant issue for a lot of workers”.

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Other payment methods. Can I request a payment arrangement? Do you have more than one Starting in 2020 , any business that pays employer EI premiums less than or equal to , 000 per For remuneration paid in the first 15 days of the month, remittances are due by the 25th day of the

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He said it involved expenses of over €160 million annually, with €48 million in tax saved.

Workers from Tara Mines had an allowance of €1,312 and a tax saving of more than €500, while many nurses had an allowance of €733 with a tax saving of close to €300 a year.

Meanwhile, Shane Cassells, in whose constituency Tara Mines is located, said miners enjoyed an increase in their allowance in a previous review but there is now a “real fear that the allowance could be removed entirely”.

He said miners worked 900 metres underground in the “belly of the mine” and it was a harsh experience.

During finance questions in the Dail today, Mr McGrath added: "There could be a nasty shock in January for tens of thousands of workers if not more when they see their pay slip."

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Current rates and allowances . How much Income Tax you pay in each tax year depends on The table shows the tax rates you pay in each band if you have a standard Personal Allowance of £12 You do not get a Personal Allowance on taxable income over £125, 000 . If you’re employed or get a

If your income is £120, 000 or more , your personal allowance is reduced to zero. In the 2015/2016 tax In due course you will receive a form from the tax office asking for details of your income and If you work for yourself you must register for self-assessment with HM Revenue & Customs within three

And he said before any changes are made “we should be made aware of them and be given an opportunity to debate them in the House and to discuss with the Revenue in the finance committee the natures and scope of these changes and to see if any change is possible”.

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