Calculating Deductions (Statutory and Voluntary)


Worked example: Sarah’s gross pay is €480 and PAYE is charged at 20%. She has tax credits of €34. PRSI is charged at 4% and USC is charged at 2%.


PAYE


(Gross pay x PAYE rate) - tax credits


€480 × 20% = €96 Less tax credit = €96 − €34 = €62


€480 × 4% = €19.20


PRSI Gross pay × PRSI rate


€480 × 2% = €9.60


Total Statutory Deductions: €62 + €19.20 + €9.60 = €90.80


Q14 Liam’s gross pay for the week is €540. PAYE is charged at 20% and he has a weekly tax credit of €34. PRSI is charged at 4% and USC at 2%. Calculate his total statutory deductions.


PAYE Workings Workings PRSI Workings USC USC Gross pay × USC rate


Total Statutory Deductions:


Q15 Sorcha’s gross pay for the week is €720. PAYE is charged at 20% and she has a weekly tax credit of €38. PRSI is charged at 4% and USC at 2%. Calculate her total statutory deductions.


PAYE Workings Workings PRSI Workings USC


Total Statutory Deductions:


Q16 Declan’s gross pay for the week is €880. PAYE is charged at 20% and he has a weekly tax credit of €42. PRSI is charged at 4% and USC at 2%. Calculate his total statutory deductions.


PAYE Workings Workings PRSI Workings USC


Total Statutory Deductions: 98 2


STRAND 1


CHAPTER 11:


Understanding payslips and personal tax


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