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Hundreds of thousands facing tax bills of over €1,000

Jan 15, 2021 12:01 By News Northern Sound
Hundreds of thousands facing tax bills of over €1,000 Hundreds of thousands facing tax bills of over €1,000
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Over 130,000 people will receive tax bills of more than €1,000 today linked to the government's Covid-19 supports. The amount owed

Over 130,000 people will receive tax bills of more than €1,000 today linked to the government's Covid-19 supports.

The amount owed by anyone on the Temporary Wage Subsidy Scheme or Pandemic Unemployment Payment won't be due until next year.

When the government brought in these schemes last March, the aim was to get money into people's pockets as quickly as possible.

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So from today, over 420,000 people who were on the Temporary Wage Subsidy Scheme or Pandemic Unemployment Payment will be getting tax bills.

132,000 of them will be liable to pay over €1,000 - and 300 will owe more than €5,000.

Over half of those in receipt of the PUP overpaid tax - with nearly 24,000 people owed money.

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Around a quarter of those on the wage subsidy scheme overpaid.

If you do owe tax, Revenue says it won't start collecting underpayments until this time next year.

The amount will also be spread out over four years - so if you owe €1,000, €5 a week will be taken.

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