A Guide to PRSI for the Self-Employed - SW74

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Your contribution is 4% of your income or €500, whichever is greater. Under the self assessment system, PRSI is paid directly to Revenue using their pay and file system together with any other amounts due.

If you are a self employed company director, PRSI is deducted by your employer under the PAYE system.

If you have been told by an Inspector of Taxes that you need not make a Tax Return for a particular year, but your income is €5,000 or more per year, you are liable to pay a flat rate social insurance contribution to the Department of Social Protection.

If you are a Share fisherman or fisherwoman who is classified as self-employed, you may choose to pay an additional contribution for certain benefits under Class P. You will pay a contribution of 4% of income in addition to the PRSI being paid already under Class S. There is a PRSI free allowance of €2,500.

These additional contributions paid under Class P provide cover for:

  • limited Jobseeker's Benefit (for up to 13 weeks in each calendar year)
  • limited Illness Benefit (for up to 52 weeks)
  • Treatment Benefit including dental, optical and aural benefits for themselves and their dependent spouses.
Last modified:20/05/2015

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