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any1 want to help me pass my exam?

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
I doing taxation in college. but i have a question i cant do. Was wondering if any1 knows how to calcualate it for me.

Frances earns a salary of 1250
standard rate cut off point is 2000
and tax credits are 300
its on a monthly basis. this month was january. I need the paye to be deducted and prsi

Sean earns a salary of 800
standard rate cut off point is 1250
and tax credits are 50.
its on a monthly basis. this month was january. I need the paye to be deducted and prsi

:confused:

i get all confused with the cut off rates and all. i know if the stcop was below the wage you would use the rate of 20% and 41% and that you use the 20% rate for above but im not sure were to insert it and how to deducted prsi then from then.

I wish i went to class more often nw :(

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Is this the irish tax system? Becaue I've never heard of prsi before.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    lisalashe wrote: »

    I wish i went to class more often nw :(

    And if someone just tells you the answer you'll still wish that, because you won't have learnt anything.

    How far have you got? Work out the bit you can work out and put that on here. At the moment you've not done anything except re-write the question, and you want some other sap to answer it for you.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Lisa Lashes.. bit of a hard house fan eh? :-)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    There how i think its done. i just want an answer to compare it with.

    Frances salary=1250x20%= 250
    cant take tax credits or nothing away there so im stuck. as to what happens after that.

    Sean salary=800x20%= 160
    minus tax credits= 50
    100

    does the standard rate cut off not apply to these questions them.

    its the irish tax system.
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