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Preliminary Tax/PRSI Query for first time sole trader

jnmcq · 2012-10-23 13:21:26

Hi, I've been self employed (sole trader) since April 2012 and want to sort out my Preliminary Tax for this October 31st. I know I can base this years on 100% of last years tax, meaning I owe zero as I wasn't trading last year. I've made an overall loss so far so I rang the Revenue and asked them do I still have to pay the…

23-10-2012 02:21PM

#1
jnmcq

Registered Users, Registered Users 2 Posts: 1 ✭

Join Date: October 2012

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Hi, I've been self employed (sole trader) since April 2012 and want to sort out my Preliminary Tax for this October 31st. I know I can base this years on 100% of last years tax, meaning I owe zero as I wasn't trading last year.

I've made an overall loss so far so I rang the Revenue and asked them do I still have to pay the minimum PRSI payable of €253 by Oct 31st 2012 and they said I do. So I rang the citizens advice (some number I got for queries on PRSI) as I was confused and he said that as I made a loss I'm not liable to pay the PRSI as PRSI is on profits not turnover. Can anyone tell me who is right??

Tagged:

tax

prsi

sole trader

preliminary tax

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Comments

#2 23-10-2012 04:35PM

kennyb3

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Join Date: January 2009

Posts: 6466

All the details on self employed prsi are here

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