I am informed by the Revenue Commissioners that they are making arrangements to issue in excess of 2 million tax credit certificates to PAYE taxpayers in the period 10 to 31 January 2005 which will incorporate any changes made in the budget. Similarly, in early January, they will be issuing certificates to employers, by post or electronically, via the revenue on-line service so that the correct tax credits can be applied in the calculation of employee wages or salaries.
The PAYE system is a cumulative system and all tax credit certificates automatically apply from 1 January of the year of issue. In these circumstances, no specific provisions are required by the Revenue Commissioners to deal with any refunds which might arise. Any adjustments, including refunds, will be made by employers.