What is Unemployment Repayment?
Unemployment repayment is a payment which can be claimed by an individual who is out of work and/ or going abroad during the year, whether or not they plan to resume employment. This repayment enables the individual who has paid Income Tax and/or Universal Social Charge in the year to claim the paid amount.
As a contractor, you may be entitled to claim for the repayment if you are out of work. The claim can be made immediately after you are unemployed, or if you leave the Republic of Ireland permanently. Other than these two cases, you can still make a claim if your last employment is subject to an emergency tax. If you are in receipt of any other taxable income, you are allowed to claim repayment after 8 weeks out of work; if you do not, you can make a claim after 4 weeks time.
Before making any claims, you must ensure that you have declared your other sources of income and claimed your entitled tax credit before you can proceed with your claim. When you start making a claim, you are required to fill in the reason for your claim, and to include more specific details. After you complete the form, you will receive confirmation from the Revenue.
You can proceed the claim on the Revenue myAccount online or ROS system by your agent. If both methods don\’t work for you, you can fill in the form manually and post to the Revenue office. If you have any concerns about your claim, please feel free to contact us for free consultation!
Accounting Pro is Ireland’s premier payroll accounting service. We are here to help the busy contractor and company, with all your accounting and payroll needs. We are both an umbrella company and umbrella corporation and we can create your limited company. We are experts in contractor pensions, contractor health insurance, illness and sick benefit for the self employed and contractor expenses. To learn more about what we do please review http://accounting-pro.ie/ and contact us by email: email@example.com or phone us (01) 582 5405. “What is Unemployment Repayment?” is an article written by Accounting-Pro Ireland for the benefit of everyone. Feel free to share it but please give attribution on a CC BY-SA license.