Written answers
Tuesday, 16 December 2014
Department of Finance
Universal Social Charge Yield
Michael McGrath (Cork South Central, Fianna Fail)
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203. To ask the Minister for Finance the proportion that the universal social charge represents of all income tax receipts in each year since its inception; the projected percentage in 2014 and 2015; and if he will make a statement on the matter. [47791/14]
Michael Noonan (Limerick City, Fine Gael)
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The data requested by the Deputy regarding the USC is set out in the following table. It is important to take into account that the figures displayed for 2011, 2012 and 2013 in the table are based on end-year outturns and are on a Revenue Net Receipts basis. These can differ slightly from Exchequer Receipts for reasons of accounting and timing. The estimates and projected percentages for 2014 and 2015 are in respect of the most up to date forecast as contained in Budget 2015.
| Year | Total USC Receipts €million | Total Income Tax Receipts (Including USC Receipts) €million | Total USC Receipts as a % of total Income Tax Receipts |
|---|---|---|---|
| 2011 | €3,114 | €13,814 | 22.5% |
| 2012 | €3,790 | €15,151 | 25.0% |
| 2013 | €3,930 | €15,753 | 24.9% |
| 2014 | €3,695 | €17,180 | 21.5% |
| 2015 | €4,175 | €17,980 | 23.2% |
It should be noted that receipts, when received by the Revenue Commissioners, are apportioned on an estimated basis between Income Tax and USC and then finalised when end year tax returns are filed. This apportionment remains in place for Schedule D (self employed) taxpayers. However for PAYE taxpayers, since mid-year 2013, the monthly employer returns specify the Income Tax /USC split. The Revenue Commissioners have advised me that the 2013 P35 returns (received in early 2014) show lower USC payments and higher PAYE payments than was initially allocated in 2013. To offset an automatic reallocation based on these P35 declarations, receipts are being taken out of USC collection throughout 2014.
The net Exchequer effect of the reapportionment is and will remain neutral.
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