I'd be grateful for any advice for the below.
I own a pub that has employed approx 14 employees (part-time/full-time) over the last 3 years. Six of these employees are full-time and I pay their employer PRSI(10.75%) however the other employees get cash-in-hand and work part-time. Im in the process of getting my back-office modernised (quickbooks/collsoft accounting system). My main reason for doing this is to get a better handle of sales, costs, profits, cashflows etc on a week-to-week basis. I plan on using the next few weeks to review all costs with a view to "tightening-the-belt" including the current headcount structure.I know my current staff remuneration arrangement isn't legal (avoiding the Employer PRSI) however I cannot see any other options. Can someone advise me as to the benefits of employing all 14 employees and increasing my monthly employer PRSI bill?
Thank you in advance!
I own a pub that has employed approx 14 employees (part-time/full-time) over the last 3 years. Six of these employees are full-time and I pay their employer PRSI(10.75%) however the other employees get cash-in-hand and work part-time. Im in the process of getting my back-office modernised (quickbooks/collsoft accounting system). My main reason for doing this is to get a better handle of sales, costs, profits, cashflows etc on a week-to-week basis. I plan on using the next few weeks to review all costs with a view to "tightening-the-belt" including the current headcount structure.I know my current staff remuneration arrangement isn't legal (avoiding the Employer PRSI) however I cannot see any other options. Can someone advise me as to the benefits of employing all 14 employees and increasing my monthly employer PRSI bill?
Thank you in advance!