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Sole trader and PRSI

  • 04-05-2016 06:17PM
    #1
    Registered Users, Registered Users 2 Posts: 2


    Hi Lads,

    Quick question. I am currently researching on how to become a sole trader however there is one thing I cannot sort out . When I do become a sole trader I will still be employed by someone else. This person is currently responsible for my PRSI , USC , PAYE contributions etc. Will they still be responsible for this or must I also file PRSI returns through my own business for myself ? Thanks.


Comments

  • Registered Users, Registered Users 2 Posts: 401 ✭✭Lockedout2


    Your employer will be responsible for the operation of PAYE, PRSI and USC on your employment income.

    You will have to file a form 11 each year and you will include all your income and you will get a credit for PAYE and USC paid on your employment income.


  • Registered Users, Registered Users 2 Posts: 2 thexsara


    Thanks lockedout2 , simple enough set up so :)


  • Registered Users, Registered Users 2 Posts: 101 ✭✭Ethan.Saaris


    Lockedout2 wrote: »
    You will have to file a form 11 each year and you will include all your income and you will get a credit for PAYE and USC paid on your employment income.

    When you say "all your income", does that include the regular/full-time employment income or the self-employment income only?


  • Registered Users, Registered Users 2 Posts: 14,595 ✭✭✭✭CIARAN_BOYLE


    When you say "all your income", does that include the regular/full-time employment income or the self-employment income only?

    You put in all your income including employment and all your tax paid so that tax credits used and cut off points used can be taken into account.


  • Registered Users, Registered Users 2 Posts: 101 ✭✭Ethan.Saaris


    You put in all your income including employment and all your tax paid so that tax credits used and cut off points used can be taken into account.

    I see, and they will only tax my self-employed business. Sounds good.


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  • Registered Users, Registered Users 2 Posts: 14,595 ✭✭✭✭CIARAN_BOYLE


    I see, and they will only tax my self-employed business. Sounds good.

    Assuming your employment tax is calculated correctly.If its not its corrected while you file your income tax return.


  • Registered Users, Registered Users 2 Posts: 101 ✭✭Ethan.Saaris


    Assuming your employment tax is calculated correctly.If its not its corrected while you file your income tax return.

    I assume it is, never had any problems with my current employer.

    Thank you.


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