53 Week Pay Year

Schedule E Mandatory Fields

ROS now require the following information to be provided for all Schedule E records (with the exception of Social Welfare Pensions, Non-PAYE Employments, Non-PAYE Pensions and Non-PAYE Foreign Employments).

  • Employers/Pension Providers PAYE Registered number (Company tax number in the Schedule E record).
  • Payment Frequency (Pay Frequency in the Schedule E record).
  • Does the P60 for this employment indicate there were 53 pay days in 2016? If there are 53 pay days (or more than 26 if paid fortnightly or more than 12 if paid every four weeks) the enter 53 as weeks worked in the Schedule E record). TaxPro assumes 52.

Computation changes to reflect Revenue practice

Income Tax

If the Schedule E record indicates there were 53 pay days in 2016 then the Schedule E Gross figure will be reduced depending on the pay frequency as follows:

  • If weekly paid then the gross income will be reduced by 1.5%.
  • If fortnightly paid then the gross income will be reduced by 3%.
  • If four-weekly paid then the gross income will be reduced by 6%.

If a client’s P60 shows Gross Income of €50,000 and if the P60 indicates there were 53 pay days in 2016, then the Gross Income to be included in the income tax computation will be reduced as follows:

  • If paid weekly the income is reduced by 1.5% to €49,250.
  • If paid fortnightly the income is reduced by 3% to €48,500.
  • If paid four-weekly the income is reduced by 6% to €47,000.

USC (The examples shown below use the bands for the 2016 tax year)

If the Schedule E record indicates there were 53 pay days in 2016 then the exemption limits and bands are increased depending on the pay frequency and the Gross Schedule E income subject to USC as follows:

  • If paid Weekly the exemption limit and bands may be increased by 1/52.
  • If paid forthightly the exemption limit and bands may be increased by 1/26.
  • If paid four-weekly the exemption limit and bands may be increased by 1/13.

Which bands are increased depends on Gross Schedule E income for USC purposes.

Weekly Paid

All normal bands may be increased by 1/52. Medical Card/Over 70 aggregate income is now €61,154 (€60,000 increased by 1/52).

If a clients Gross Schedule E income for USC purposes is €10,000 and the client had other income liable to USC of €60,000 the bands will be as normal. No increase in the bands apply as the Gross Schedule E income is below €12,243 (€12,012 increased by 1/52).

If a clients Gross Schedule E income for USC purposes is €15,000 and the client had other income liable to USC of €60,000 the bands will be as follows:

  • 1.5% on the first €12,243.
  • 3.5% on the next €6,656.
  • 7% on the next €51,376.
  • 8% on the balance.

If a clients Gross Schedule E income for USC purposes is €50,000 and the client had other income liable to USC of €60,000 the bands will be as follows:

  • 1.5% on the first €12,243.
  • 3.5% on the next €6,784.
  • 7% on the next €51,376.
  • 8% on the balance.

If a client’s Gross Schedule E income for USC purposes is €90,000 and the client had other income liable to USC of €60,000 the bands will be as follows:

  • 1.5% on the first €12,243.
  • 3.5% on the next €6,784.
  • 7% on the next €52,364.
  • 8% on the balance.

Fortnightly Paid

All normal bands may be increased by 1/26. Medical Card/Over 70 aggregate income is now €62,308 (€60,000 increased by 1/26).

If a clients Gross Schedule E income for USC purposes is €10,000 and the client had other income liable to USC of €60,000, the bands will be as normal. No increase in the bands apply as the Gross Schedule E income is below €12,474 (€12,012 increased by 1/26).

If a clients Gross Schedule E income for USC purposes is €15,000 and the client had other income liable to USC of €60,000 the bands will be as follows.

  • 1.5% on the first €12,474.
  • 3.5% on the next €6,656.
  • 7% on the next €51,376.
  • 8% on the balance.

If a clients Gross Schedule E income for USC purposes is €50,000 and the client had other income liable to USC of €60,000 the bands will be as follows:

  • 1.5% on the first €12,474.
  • 3.5% on the next €6,912.
  • 7% on the next €51,376.
  • 8% on the balance.

If a clients Gross Schedule E income for USC purposes is €90,000 and the client had other income liable to USC of €60,000, the bands will be as follows:

  • 1.5% on the first €12,474.
  • 3.5% on the next €6,912.
  • 7% on the next €53,352.
  • 8% on the balance.

Four Weekly Paid

All normal bands may be increased by 1/23. Medical Card/Over 70 aggregate income is now €64,616 (€60,000 increased by 1/13).

If a clients Gross Schedule E income for USC purposes is €10,000 and the client had other income liable to USC of €60,000 the bands will be as normal. No increase in the bands apply as the Gross Schedule E income is below €12,936 (€12,012 increased by 1/13).

If a clients Gross Schedule E income for USC purposes is €15,000 and the client had other income liable to USC of €60,000 the bands will be as follows:

  • 1.5% on the first €12,936.
  • 3.5% on the next €6,656.
  • 7% on the next €51,376.
  • 8% on the balance.

If a clients Gross Schedule E income for USC purposes is €50,000 and the client had other income liable to USC of €60,000 the bands will be as follows:

  • 1.5% on the first €12,936.
  • 3.5% on the next €7,168.
  • 7% on the next €51,376.
  • 8% on the balance.

If a clients Gross Schedule E income for USC purposes is €90,000 and the client had other income liable to USC of €60,000, the bands will be as follows:

  • 1.5% on the first €12,936.
  • 3.5% on the next €7,168.
  • 7% on the next €55,328.
  • 8% on the balance.