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There are some changes in Budget 2024 that will affect your take home income after tax next year.

According to our calculations, if you are self-employed, earning between €80-90k a year, you will be approximately €892 better off in 2024, when compared to 2023. 

This is due to an increase in the income tax band, the main tax credits, and a small alteration to the Universal Social Charge.

The Minister increased the standard rate band (the point at which you start paying 40% tax) from €40,000 to €42,000.

The Earned Income Tax Credit has increased by €100 from €1,775 to €1,875.

There have also been some small movements on the USC bands including the 4.5% band reducing to 4% for 2024.

For full details on the changes and to see a worked example, download our full Budget 2024 Summary here.

The above analysis is relevant for a single self-employed person with no children.


Date published 11 Oct 2023 | Last updated 11 Oct 2023

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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