Preliminary Tax - Minimum €500 PRSI Charge

[jokerini]

A sole trader has no charge to PAYE in 2013. He only has to pay the €500 minimum Class S PRSI charge. Doe he also have to pay an additional €500 as preliminary tax for 2014?

 

[Joe_90]

Preliminary Tax is a payment on account. If you are paying based on 100% of 2013 then your Prelim Tax for 2014 is €500.

 

[missthrifty]

Hello,
Could somebody tell me if the Euro 253 minimum still applies for self assessed tax purposes? If not, when did the amount increase?

My husband has resumed building work last month and I also need to submit my preliminary tax payment for 2014.

We opt for the minimum amount as low earning self employed sole traders.

I didn't realise it might be E1,000.

 

[jokerini]

It changed from 1 January 2013.