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Class S PRSI question - new business

  • 18-04-2013 12:35pm
    #1
    joshie123
    Registered Users, Registered Users 2 Posts: 18 ✭


    I'm thinking of setting up a very small craft business from home that doesn't have big earning potential - am hoping to cover costs + a small profit to fund future projects.

    I've looked on revenue site and am a bit confused about the issue of PRSI.

    I am not in employment at the moment and am not claiming any benefits.

    Am I right in saying that no matter what I income I generate, once I register for tax as self employed I am liable to pay a minimum payment of €500?

    Thanks


Comments

  • #2
    Shane732
    Registered Users, Registered Users 2 Posts: 5,003 ✭✭✭Shane732


    joshie123 wrote: »
    I'm thinking of setting up a very small craft business from home that doesn't have big earning potential - am hoping to cover costs + a small profit to fund future projects.

    I've looked on revenue site and am a bit confused about the issue of PRSI.

    I am not in employment at the moment and am not claiming any benefits.

    Am I right in saying that no matter what I income I generate, once I register for tax as self employed I am liable to pay a minimum payment of €500?

    Thanks

    How much are we talking about here?


  • #3
    joshie123
    Registered Users, Registered Users 2 Posts: 18 ✭joshie123


    It's ok - phoned Social Welfare and got myself sorted.

    Thank you


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