Payback Version 2021.01

 

PMOD Changes

  • No PAYE Modernisation changes

Budget Changes

PAYE
There were no PAYE changes for 2020 in the Budget. All PAYE rates stay the same.

PRSI
New 'E' Class PRSI for Ministers of the Church of Ireland paid under the Special Collection System.
Class A rate of employer PRSI is increasing from €395 to €398 per week.

 

USC
New USC Rates can be found here: https://www.revenue.ie/en/jobs-and-pensions/usc/standard-rates-and-thresholds-of-usc.aspx

The standard rates of Universal Social Charge are:
2016 Rate 2017 Rate 2018 Rate 2019 Rate 2020 Rate 2021 Rate
On the first €12,012 1% On the first €12,012 0.5% On the first €12,012 0.5% On the first €12,012 0.5% On the first €12,012 0.5% On the first €12,012 0.5%
On the next €6,656 3% On the next €6,760 2.5% On the next €7,360 2% On the next €7,862 2% On the next €8,472 2% On the next €8,675 2%
On the next €51,376 5.5% On the next €51,272 5% On the next €50,672 4.75% On the next €50,170 4.5% On the next €49,560 4.5% On the next €49,357 4.5%
On the balance 8% On the balance 8% On the balance 8% On the balance 8% On the balance 8% On the balance 8%

 

The Reduced rates of Universal Social Charge are:
2011 & 2012 2013 & 2014 2015 2016 2017

2018 to 2021
Individual aged 70 years or over. Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less.
Individuals who hold a full medical card (regardless of age). Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less.
2% - on the first €10,036 2% - on the first €10,036 1.5% - on the first €12,012 1% - on the first €12,012 0.5% - on the first €12,012 0.5% - on the first €12,012
The 4% rate applies to all income over €10,036 The 4% rate applies to all income over €10,036 The 3.5% rate applies to all income over €12,012 The 3% rate applies to all income over €12,012 The 2.5% rate applies to all income over €12,012 The 2% rate applies to all income over €12,012

Emergency Tax

Like 2019 and 2020, employees on emergency tax with a PPS Number will not receive any tax credits. They will also only get 4 weeks or one month of standard rate cut off point.