Archive for May, 2013

Irish Salary Calculator launched!

In response to a few requests, an Irish version of The Salary Calculator has been launched! This new site allows you to perform take-home pay calculations according to the tax laws in Ireland. As well as Irish Income Tax, there is also support for the Universal Social Charge (USC) and Pay-Related Social Insurance (PRSI), and pensions, tax credits and allowances.

Why not take a look at the Irish Salary Calculator and see how your take-home pay might change? You can also perform calculations for an hourly wage, and work out what salary you need to get the take-home pay you desire. Pro-rata calculations are also catered for. You can read about the calculations performed on this page about The Irish Salary Calculator.

At the moment, there aren’t as many options available as there are on the UK Salary Calculator. If you live in Ireland or pay Irish tax and would like new features added to The Salary Calculator, please let me know!

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Salary sacrifice and personal pensions

For many years, The Salary Calculator has allowed you to enter a percentage of your salary to be deducted as contributions to a pension. However, only employer (or occupational) pensions have been supported. Now, the calculator has been updated to allow you to specify whether your contributions are to an employer pension (as before), a salary sacrifice scheme, or a personal pension.

These three different types of pensions have different regulations applied to them, which means they affect your take-home pay in different ways. Your income tax, National Insurance contributions and even student loan deductions might be different depending on the type of pension scheme you are paying into. More information about the different pension types is on The Salary Calculator “About” page.

Choose the “Pension” tab on The Salary Calculator to see the new options and see how it affects your take-home pay!

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