M
mole1207
Guest
Hi. New poster to this site and just looking for general advice on the above.
My partner and two members of his family went out on their own some years ago. A limited company was set up, and they are currently proprietary directors, paying S1 PRSI.
My question is, (and excuse my naivity/ignorance on the subject), what are the advantages of paying S Class, aside from paying a lower rate of PRSI? The disadvantages are fairly clear - in the event that the company doesn't survive the current climate, my partner and his family members would not be entitled to any JB/JA, but aside from that they are not currently entitled to any Dental or Optical benefits.
Could they, as directors or owners of the company, have been paying a full Class A all along? Or once you set up in business, does that mean you must pay a lower rate of PRSI?
Sorry if this is long-winded and hopefully someone can clarify this for me.
My partner and two members of his family went out on their own some years ago. A limited company was set up, and they are currently proprietary directors, paying S1 PRSI.
My question is, (and excuse my naivity/ignorance on the subject), what are the advantages of paying S Class, aside from paying a lower rate of PRSI? The disadvantages are fairly clear - in the event that the company doesn't survive the current climate, my partner and his family members would not be entitled to any JB/JA, but aside from that they are not currently entitled to any Dental or Optical benefits.
Could they, as directors or owners of the company, have been paying a full Class A all along? Or once you set up in business, does that mean you must pay a lower rate of PRSI?
Sorry if this is long-winded and hopefully someone can clarify this for me.