A Guide to PRSI for the Self-Employed - SW74

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The following are not included when you work out income for your Class S PRSI contribution:

  • capital allowances,
  • any social welfare payments or benefits,
  • any payment for attendance at a training course administered by SOLAS, taxed under PAYE,
  • Mobility Allowance paid by the Health Service Executive, taxed under PAYE,
  • pension payments, taxed under PAYE
  • any Revenue approved income continuance payments received by a person forced to leave employment due to illness, as long as Revenue have approved the scheme, taxed under PAYE.
  • redundancy payments and payments received as a consequence of the termination of an office or employment taxed under PAYE
  • any funds received by the early withdrawal of funds from certain AVCs, taxed under PAYE,
  • certain retirement lump sums in excess of the maximum lifetime tax-free limit of €200,000,
  • the early encashment of certain amounts of private pensions by individuals in the public sector who had previously been self-employed,
  • a payment in respect of or a gain arising on a disposal of certain foreign life policies,
  • a payment received in respect of or a gain arising in respect of a disposal of certain material interests in an offshore fund,
  • certain chargeable excesses of a Benefit Crystallisation Event.
Last modified:13/04/2017

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