New services company - tax, prsi, other exp.

TheAppo

Hi,
Can anyone tell me all those deductions (taxes, prsi, and other) which Employer (Sole Trader - Services) have to pay and when?
All I know is :
13,5% Income tax (? - each month or on the end of tax year?)
10% PRSI for employees (10% of what? and those it covers my PRSI also?)
and in the end - VAT ...
Did I missed something?

EKRIUQ

Get an Accountant, because your all wrong

TheAppo

I will and actualy I am looking for one even now, but it is only for my information before meeting him.

gnxx

VAT is divided into 6 periods of two months each. It is normal paid two weeks after the end of period.

PAYE amount depends on salary.

Employers PRSI ( for employees not directors ) can be roughly budgetted by adding 10% on top of the employees salary. Note roughly. Owner/Directors are on a different PRSI class.

Both PAYE/PRSI should be paid within 2 weeks of month end.

swanvill

Hi,
The weblink below is what needs to be paid for the month of May.

http://www.revenue.ie/en/practitioner/calendar.html#section5

My advice if you are employing people get a payroll package it will be the best couple hundred quid you will spend, as you will not have to guess about income levies, PRSI, Health levies & tax rates & tax bands etc, just plug in the P45 details and plug in the gross pay every week/month and it is all calculated for you.

If you need anymore advice please feel free to pm me.
Best of luck with your new venture.

Swanvill.

MartMax

Please have a read here.. http://www.revenue.ie/en/business/index.html

It should be a good start...