Following recent developments of the PAYE system, employees and Proprietary Directors can now access details of their total pay and statutory deductions for 2019. They can also view their tax position for the year based on Revenue’s preliminary calculation.
New terminology and documentation have been introduced as follows:
You can access the record of your payroll details for 2019 as follows:
This summary of payroll information or proof of income can be downloaded or printed for you to retain or it provided to third parties as required.
To calculate whether you have underpaid, overpaid or paid the correct amount of income tax and USC for 2019 you can request a Preliminary End of Year Statement by
If you have overpaid your taxes, based on the Revenue’s records, please be aware that the refund will not issue automatically. You will need to file an Income Tax Return for 2019 to include (i) your total income, (ii) any allowable deductions and (iii) your tax credits so that Revenue has been provided with full and complete information necessary to calculate your tax position.
In order to file an Income Tax Return, you should:
Once you have submitted your Income Tax Return, it will be processed by Revenue and a Statement of Liability will issue along wtih any refund due for the 2019 year of assessment.
The refund can be paid in two ways: (i) directly into your bank account or (ii) by cheque posted to your home address. if you wish to have the refund transferred electronically, you must:
If, however, the Preliminary End of Year Statement shows that you underpaid your taxes for the 2019 year of assessment, you must file an online Income Tax Return to include all relevant income, allowable deductions, tax credits, etc. This can be done through MyAccount. Once Revenue has processed the information, a Statement of Liability will issue. This document will outline how any underpayment is be recovered. Options include adjusting your tax credits and standard rate cut-off point over one or more years.
The Revenue Commissioners will write to taxpayers who have underpaid tax based on their preliminary calculations, requiring them to complete and file an Income Tax Return for 2019.
In circumstances where the taxpayer does not file a return, the Revenue Commissioners will write to them again, this time outlining how the underpayment is to be collected.