As part of our payroll services we offer bespoke packages tailored to suit the needs and requirements of your company.We cater for all company sizes, from small to large, in all industries sectors and can tailor the payroll package to suit your requirements. It’s a simple process to commence, just provide us with the necessary employee information and let us do the rest!The key features of our payroll service include:
Income tax is charged on employment income arising in Ireland. The standard rate of tax is 20% and the higher rate of tax is 40%. The tax rate applicable to your income will depend on your circumstances and the standard rate cut-off point (SRCOP) and tax credits that Revenue issue to you. The SRCOP is €33,800 for a single person and for €67,600 for a married couple/civil partners with two incomes for 2017.
Tax credits are used by employees to reduce their tax liability. Tax credits are deducted after your tax has been calculated. Each employee is entitled to an annual personal tax credit of €1,650 and most employees will be entitled to the PAYE (pay as you earn) tax credit of €1,650 also. However there are some exceptions to who can claim the PAYE tax credit. Additional tax credits may apply depending on your circumstances. Tax credits are not refundable.
A tax credit certificate is a certificate issued by Revenue to an employer in respect of each employee which states the annual, monthly and weekly tax credits and SRCOP allocated to that employment for PAYE and USC purposes. It also confirms whether or not PAYE should be operated on a Cumulative or Week 1 Basis. Employees are also issued with a copy of their tax credit certificate from Revenue.
The amount of tax you pay depends on the amount of your income. The standard rate tax is 20% and the amount that this applies t is known as the standard rate of tax band. The rest of your income is taxed at 40%, known as the higher rate of tax. The tax rate applicable to your income will depend on your circumstances, tax credits and the standard rate-cut off point. The standard rate cut off point is the amount you can earn before you start to pay the higher rate of tax. The standard rate cut off point is €33,800 for a single person and €67,600 for a married couple/civil partners with two incomes for 2017