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PRSI & Self - Employed Need Help

  • 18-01-2017 10:49am
    #1
    tomhenryford
    Registered Users, Registered Users 2 Posts: 421 ✭✭


    Hi there,

    I have been self-employed since May 2015, made zero income until June 2016.

    From June 2016 to present I have been be earning an income every week, however I haven't been paying any PRSI contributions.

    I am on a BTWEA scheme that ends in May.

    I was a PAYE employee until June 2014 and was unemployed for a year until I went on the scheme.

    What % of my weekly earnings do I need to pay as a PRSI contribution and how do I go about doing it?

    Thank you.


Comments

  • #2
    thegolfer
    Registered Users, Registered Users 2 Posts: 346 ✭✭thegolfer


    For self employed persons minimum prsi contribution is €500 per year, or 4% of your income.

    You pay prsi when submitting your income tax return once annually.

    However if you have insufficient income you can become a voluntary contributor. Application is made to welfare indicating your details, who will then assess your situation.

    Strongly recccommended that you pay the minimum contributions, as this will impact your entitlements in later years.

    Get an accountant to assist you.


  • #3
    tomhenryford
    Registered Users, Registered Users 2 Posts: 421 ✭✭tomhenryford


    thegolfer wrote: »
    For self employed persons minimum prsi contribution is €500 per year, or 4% of your income.

    You pay prsi when submitting your income tax return once annually.

    However if you have insufficient income you can become a voluntary contributor. Application is made to welfare indicating your details, who will then assess your situation.

    Strongly recccommended that you pay the minimum contributions, as this will impact your entitlements in later years.

    Get an accountant to assist you.

    Ok, I'm actually asking this question for my wife who isn't on boards. What she's concerned about is that the annual contribution isn't due to be paid until the end of October this year. She's wondering should she be making voluntary contributions to avail of maternity benefit as her last PRSI PAYE contribution would have been in June 2014 as that's when her PAYE employment ended.

    If, she got pregnant in the next 3 months, we are concerned that she wouldn't qualify for maternity benefit, she plans on working right up to the end but her job is very physical in nature.


  • #4
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    tomhenryford wrote: »
    Ok, I'm actually asking this question for my wife who isn't on boards. What she's concerned about is that the annual contribution isn't due to be paid until the end of October this year. She's wondering should she be making voluntary contributions to avail of maternity benefit as her last PRSI PAYE contribution would have been in June 2014 as that's when her PAYE employment ended.

    If, she got pregnant in the next 3 months, we are concerned that she wouldn't qualify for maternity benefit, she plans on working right up to the end but her job is very physical in nature.

    While the tax return is not due to be paid till October 2017 it covers 2016. If your wife falls pregnant she should file the tax return early and if possible pay it to ensure that Revenue and Social Welfare process 2016 PRSI credits before she needs benefits.


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