Budget 2014 – Employers PRSI Increase

Just a reminder that when from 1 July 2011 the lower rate of employer PRSI was halved (to 4.25%) for all jobs that pay up to €356 per week, that the rate will be restored to 8.5% from 1 January 2014.
By |October 30th, 2013|Budget 2014, EuroPayX, Irish Payroll, PayDay, PAYE, Payroll, PRSI|Comments Off on Budget 2014 – Employers PRSI Increase

Budget 2014 – It’s steady as she goes

Budget 2014 may contain many changes but from the point of view of payroll and the calculation of PAYE Tax, USC and PRSI there are none. It appears that all rates remain the same as they were in 2013.
By |October 30th, 2013|Budget 2014, EuroPayX, Irish Payroll, PAYE, Payroll, PRSI|Comments Off on Budget 2014 – It’s steady as she goes

Budget 2012 – Employer PRSI Calculation Change

Budget 2011 abolished PRSI relief in the case of the employee element of PRSI in relation to the employee pension contributions and provided for the abolition of half of the PRSI relief in the case of the employer element of PRSI. In Budget 2012 the relief from employer PRSI on employee pension contributions is now fully abolished. This means that employer PRSI will increase for any employee who makes a pension contribution. There are no changes in 2012 to the PRSI thresholds and rates.
By |December 7th, 2011|Budget 2012, PRSI|Comments Off on Budget 2012 – Employer PRSI Calculation Change

Latest News on Share Option Schemes

During a meeting this morning with the Department of Social Protection it has been stated that the law has yet to be enacted to change the way share option schemes are calculated. This means that for the present share option schemes should be calculated with employers PRSI where applicable and that no refunds may made. The Department of Social Protection (DSP) remind everyone of the following with respect to Share-based Remuneration. 1                 The regulations to cater for the changes announced in March 2011, whereby schemes that were signed off between an employee and employer prior to 1 January 2011 are […]
By |July 12th, 2011|PRSI|Comments Off on Latest News on Share Option Schemes

Latest PRSI Notes

For details on the operation of PRSI from 2nd July 2011, please consult the Department of Social Protection (DSP) website at http://www.welfare.ie/ and in particular the Advanced Notice of PRSI Rates at http://www.welfare.ie/EN/Publications/Advance_jul2011/Documents/anprsi2011_july.pdf
By |June 30th, 2011|PRSI|Comments Off on Latest PRSI Notes

Jobs Initiative

The Irish Minister for Finance, Michael Noonan, introduced a Jobs Initiative yesterday, designed to improve Irish economic competiveness and stimulate job creation. The Jobs Initiative included a number of measures dealing with business and employment taxes, including: Commitment to keeping the 12.5% Corporation Tax Rate Abolition of Employer’s PRSI charge on share based remuneration Temporary halving of the lower rate of Employer’s PRSI Amendment of the R&D tax credit regime to enhance flexibility in how companies can account for the credit Introduction of a new lower rate of VAT of 9% in respect of tourism-related services Air Travel Tax reduced to zero The measures introduced in the […]
By |May 11th, 2011|Budget 2011, Jobs Initiative, PRSI|Comments Off on Jobs Initiative

Special Contributors to PRSI

Following consultations between the Revenue Commissioners and the Department of Social Protection (http://www.welfare.ie/EN/Topics/PRSI/Pages/specindex.aspx), it has been decided that PRSI should be returned through normal P30/P35 procedures in cases subject to PAYE Exclusion Orders. Heretofore, PRSI for these employees were remitted separately to the Special Collections Section in Waterford. This change will simplify the current arrangements where employers must account for PRSI through the Special Collections System and for the Universal Social Charge through the P35 system. This change is effective from the 2011 year. The P30 screen within EuroPayX, […]
By |February 21st, 2011|Budget 2011, PRSI|Comments Off on Special Contributors to PRSI

Budget 2011 – PRSI Class K

As part of Budget 2011 Office Holders for the purposes of PRSI are to be assigned to class K. Emoluments paid by public bodies to public office holders. “public office holder” means – (a)        the President,(b)        the holder of a qualifying office, e.g. Ministers(c)        a member of either House of the Oireachtas,(d)        a member of the judiciary,(e)        a military judge appointed under Chapter IVC of Part V of the Defence Act 1954 (amended by the   Defence (Amendment) Act 2007),(f)         a member of a local authority (within the meaning of the Local Government Act 2001),(g)        a member of the European Parliament […]
By |December 16th, 2010|Budget 2011, PRSI|Comments Off on Budget 2011 – PRSI Class K

Budget 2011 – Irish Payroll PRSI Clarifications

Confirmation from Welfare for Class K – if earnings less than or equal to €100 in a week record as M. Employee and Employer reckonable earnings for PRSI purposes are to be calculated independently, and at the relevant rate in respect of each seperate amount. This leads to the potential problem where employee and employer PRSI are returned at two different PRSI classes. To avoid this the return (contribution) will always be at the subclass designated by the employee reckonable earnings. Advance Notice to computer users for PRSI changes now available on welfare.ie click here
By |December 14th, 2010|Budget 2011, PRSI|Comments Off on Budget 2011 – Irish Payroll PRSI Clarifications