As a temporary worker, you may have noticed that this year, Revenue has made some big changes to their PAYE system- changing the way people can register new employers and claim tax back.
Every year thousands of individuals end up either overpaying their tax or not claiming their warranted tax returns. Revenue say this was because the old system was too complicated and confusing. In the new system, which was rolled out in January, all your tax issues will be dealt with online and the old paper forms such as P60, P45, and P30 don’t exist anymore.
What is myAccount?
MyAccount is the new online tax & revenue system which makes it easier to update your personal details, review your tax affairs, and make payments and apply for tax reliefs and incentives. With details on what you’re paying in income tax, universal social charge (USC), PRSI (pay related social insurance and income tax rate for the staff member), local property tax, pension etc. which are updated by employers on a monthly basis. You can now view all these submitted details (which were previously given to you on your P45 forms when you left a job) and have a more accurate up-to-date view of your tax situation.
What does this mean for you?
Basically, instead of getting lots of various forms or having to wait long periods for amendments/ band adjustments to your tax credits when you start a new job, all of your tax needs will be adjusted and managed in you myAccount. All you have to do now is set up for a myAccount with your Personal Public Service number (PPS), date of birth, a phone number, email address and home address, and all your details will be available to you on your account.
Requesting end of year statements
The steps to Requesting end of year statements are as follows:
- Sign in to myAccount
- Select ‘Review your tax 2015-2018’ on the ‘PAYE Services’ card
- Select ‘End of Year Statement (P21)’ for the appropriate year.
How to claim back Tax using myAccount?
A P21 is if you are claiming tax back for the previous year. In case of making any tax claims, you only need to sign into your myAccount, request a P21 (End of the year Statement), which you’ll receive within 5 working days, fill a Form 12 and submit them. You will then either directly get the claim deposited in your account (if your bank details are entered in your profile) or receive a check in the post. It can be used to claim tax back if you have left the country and have gone at least 6 weeks.
For more information please visit: https://www.revenue.ie/en/online-services/services/register-for-an-online-service/register-for-myaccount.aspx or contact your Revenue Office.