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 that are due from you.

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, after the application of a PRSI free allowance of €2,500.

Contributions paid under Class P provide cover beyond normal Class S benefits, as follows:

  • 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:13/04/2017

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