Irish Tax Dictionary

Tax & Finance Glossary

Search plain-English explanations for PAYE, USC, PRSI, pensions, investments, and landlord tax terms. Definitions are informational and may depend on your circumstances.

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Use search for payslip terms (PAYE, USC, PRSI) and filing terms (Form 11).
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All PAYE & Payroll USC & PRSI Pensions Investments Property Self-Assessed & Forms

Benefit in Kind (BIK)

A non-cash benefit taxed as if it were extra pay.

PAYE & Payroll

Bonus Tax

How PAYE, USC, and PRSI apply to bonus payments through payroll.

PAYE & Payroll

Company Car BIK

BIK treatment specifically for employer-provided cars, based on statutory rules.

PAYE & Payroll

Cumulative Basis

PAYE method that recalculates tax using year-to-date pay and credits.

PAYE & Payroll

Emergency Tax

A conservative PAYE treatment applied when payroll lacks correct Revenue instructions.

PAYE & Payroll

Employee (PAYE) Tax Credit

A tax credit typically available to employees under PAYE.

PAYE & Payroll

Flat Rate Expenses

A standardised expense deduction available to some occupations.

PAYE & Payroll

Gross Pay

Your pay before tax, USC, PRSI, and other deductions.

PAYE & Payroll

Home Carer Tax Credit

A credit for qualifying couples where one spouse/civil partner cares for dependants.

PAYE & Payroll

Income Tax

The main tax on income, calculated using rates, bands, and tax credits.

PAYE & Payroll

Joint Assessment

A method for married couples or civil partners to share bands and credits.

PAYE & Payroll

Marginal Tax Rate

The rate applied to the next euro you earn.

PAYE & Payroll

Medical Expenses Tax Relief

A tax relief for eligible medical expenses, subject to Revenue rules.

PAYE & Payroll

Medical Insurance BIK

Tax treatment of employer-paid medical insurance as a Benefit in Kind.

PAYE & Payroll

myAccount (Revenue)

Revenue’s online service for many PAYE taxpayer actions and claims.

PAYE & Payroll

Net Pay

Your pay after statutory deductions and relevant contributions.

PAYE & Payroll

Overtime

Additional pay for extra hours, taxed through payroll deductions.

PAYE & Payroll

PAYE

A system where Income Tax, USC, and PRSI are deducted directly from your pay.

PAYE & Payroll

PAYE Exclusion Order

A Revenue instruction that can affect PAYE withholding in specific cases.

PAYE & Payroll

Personal Tax Credit

A core tax credit available to many individuals, subject to eligibility.

PAYE & Payroll

Remote Working Relief

A relief for certain additional household costs when working from home.

PAYE & Payroll

Revenue Payroll Notification (RPN)

The instruction sent to employers for how to tax your pay under PAYE.

PAYE & Payroll

RSU (Restricted Stock Unit)

An equity award that can create taxable income when it vests.

PAYE & Payroll

SARP (Special Assignee Relief Programme)

A relief that can reduce Income Tax on part of employment income for qualifying assignees.

PAYE & Payroll

Sell-to-cover

Selling some shares at vesting to fund payroll withholding.

PAYE & Payroll

Single Person Child Carer Credit

A tax credit for certain single parents and carers, subject to eligibility.

PAYE & Payroll

Standard Rate Cut-Off Point

The portion of income taxed at the standard 20% Income Tax rate.

PAYE & Payroll

Tax Band

A range of income taxed at a particular rate within a progressive system.

PAYE & Payroll

Tax Credit

An amount that reduces the Income Tax you pay.

PAYE & Payroll

Tax Credit Certificate

A Revenue document that tells payroll your tax credits and rate band.

PAYE & Payroll

Tax Credit Claim

A claim submitted to Revenue to apply a credit or relief to your tax record.

PAYE & Payroll

Tax Credit Offset

The mechanism of subtracting tax credits from gross Income Tax due.

PAYE & Payroll

Tax Deducted at Source

Tax withheld before you receive income, such as PAYE or DIRT.

PAYE & Payroll

Tax Refund

A repayment of tax if you have overpaid, subject to eligibility and claims.

PAYE & Payroll

Taxable Benefit

A non-cash or reimbursed benefit that is taxed through payroll rules.

PAYE & Payroll

Taxable Income

Income after allowable deductions that is used to calculate tax liabilities.

PAYE & Payroll

Taxable Pay

The portion of pay used as the base for certain payroll tax calculations.

PAYE & Payroll

Termination Payment

A payment on leaving employment, with special Irish tax rules in some cases.

PAYE & Payroll

Vesting

The point at which an equity award becomes yours under the plan rules.

PAYE & Payroll

Week 1 / Month 1 Basis

PAYE basis that ignores year-to-date information for the period.

PAYE & Payroll

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Disclaimer

This glossary is for informational purposes only and does not constitute tax, legal, or financial advice. Rules may change and outcomes depend on your inputs and circumstances.

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