I understand that there is a PRSI exemption allowing cross border workers to escape paying PRSI as they are already paying social insurance contributions in the UK - but is it something that MUST be claimed?
If I earn €25,000 on which National Insurance is paid in Northern Ireland and reside in Ireland, where I also earn €15,000 in trading income, can I leave the PRSI exemption box unticked?
I had a play around when preparing this years tax return online. The result of not ticking the box is that PRSI is calculated on all income, not just the €15,000.
However, can I opt to pay this PRSI despite paying National Insurance in Northern Ireland. This would cost me €1,600 but build a years entitlement to the state pension.
Most guidance I read states that people "don't normally pay PRSI if paying social insurance contributions in another member state" but not that they never do.
Indeed, many are paying voluntary contributions of National Insurance in the UK having left many years ago. This leads me to believe that claiming the PRSI exemption may not be mandatory.
On the flip side of the coin, surely it can't be the case that someone can earn €200,000 investment income a year in Ireland and employ themselves on minimum wage in their NI company, paying National Insurance on minimum wage and escaping PRSI on the €200,000.
If I earn €25,000 on which National Insurance is paid in Northern Ireland and reside in Ireland, where I also earn €15,000 in trading income, can I leave the PRSI exemption box unticked?
I had a play around when preparing this years tax return online. The result of not ticking the box is that PRSI is calculated on all income, not just the €15,000.
However, can I opt to pay this PRSI despite paying National Insurance in Northern Ireland. This would cost me €1,600 but build a years entitlement to the state pension.
Most guidance I read states that people "don't normally pay PRSI if paying social insurance contributions in another member state" but not that they never do.
Indeed, many are paying voluntary contributions of National Insurance in the UK having left many years ago. This leads me to believe that claiming the PRSI exemption may not be mandatory.
On the flip side of the coin, surely it can't be the case that someone can earn €200,000 investment income a year in Ireland and employ themselves on minimum wage in their NI company, paying National Insurance on minimum wage and escaping PRSI on the €200,000.