How many of you are bamboozled by your payslip and cannot figure out how to work back from your gross pay to the net amount your receive into your bank account? You are not alone, there is widespread confusion when it comes to payroll taxes. Not everyone has a head for maths, so it is understandable that their eyes may glaze over as soon as anyone starts talking about tax banks and credits.

Payroll taxes are not meant to be complicated in Ireland, we have three main tax heads that we pay from our salaries – PAYE, USC & PRSI. Where much of the confusion starts is that these taxes kick in and increase at different levels.