Irish Money Glossary
This Irish money glossary explains fifteen terms from your payslip and from buying a home, each with the 2026 figures and a worked example. Every entry links to the calculator that does the sums for you.
Pay and tax(6)
Standard rate cut-off point
The amount of income taxed at 20% before the 40% rate starts. In 2026 it is €44,000 for a single person and €53,000 for a married couple with one income.
Take home pay calculator→Tax credits
Amounts taken off your gross tax, not your income. A single PAYE worker gets €4,000 in 2026: the Single Person and Employee Tax Credits.
Take home pay calculator→USC (Universal Social Charge)
A separate tax on gross income. Nothing is due if your income is €13,000 or less; above that, 2026 rates run from 0.5% to 8% on all of it.
Take home pay calculator→PRSI (Pay Related Social Insurance)
Social insurance on pay. Class A employees pay 4.2% up to 30 September 2026 and 4.35% from 1 October 2026 once earnings pass €352 a week.
Take home pay calculator→PAYE (Pay As You Earn)
The system where your employer takes income tax, USC and PRSI from each payday and pays it to Revenue, using your Revenue Payroll Notification.
Take home pay calculator→Emergency tax
Higher deductions your employer must make when it has no Revenue Payroll Notification for you. You get the extra back once Revenue issues one.
Take home pay calculator→Buying a home(8)
Mortgage approval in principle
A lender's written statement of how much it will lend you, subject to a valuation and final checks. Estate agents often ask for it before taking an offer.
Mortgage calculator→Loan-to-income (LTI)
The Central Bank cap on a home loan as a multiple of gross income: 4 times for first-time buyers and 3.5 times for second and subsequent buyers.
Mortgage calculator→Loan-to-value (LTV)
The mortgage as a share of the property's price or valuation. Owner-occupiers can borrow up to 90%, so they need at least a 10% deposit.
Mortgage calculator→Deposit
The part of the price you pay from your own money. Central Bank rules require at least 10% for a home you will live in and 30% for a buy-to-let.
Mortgage calculator→Drawdown
The point where the lender releases the mortgage money to your solicitor so the sale can close. For a self-build it happens in stages.
Help to Buy calculator→Sale agreed
The stage where seller and buyer have agreed a price but nothing is legally binding. Either side can still walk away until contracts are signed.
Stamp duty calculator→Stamp duty
Tax on buying property. For homes it is 1% up to €1 million, 2% from €1 million to €1.5 million and 6% above that, charged on the price excluding VAT.
Stamp duty calculator→Help to Buy (HTB)
A refund of income tax and DIRT for first-time buyers of new homes up to €500,000: the lesser of €30,000, 10% of the price or 4 years' tax.
Help to Buy calculator→Ready to run the numbers? Start with the take home pay calculator or the mortgage calculator, or see all Irish calculators.