BluOr Paying 4.21% via Raisin for 1 year & 3.85% for 5 years Direct

Lisboa said:
Deposit Interest does seem to trigger PRSI on Form 11, even if the deposit income is under 5k.

Is it calculated differently on Form 12?
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Does anyone know why Form 11 would auto-trigger PRSI even if non-PAYE income (including interest) is less than 5K & how to approach this? I need Form 11 for yearly Income Tax submissions (for previous tax year).
 
My understanding is as follows:

1. You must complete a Form 11 if your Deposit Income is greater than €5,000

2. Any Deposit income declared on a From 11 is liable to PRSI

So, if you earn €3,000 in Deposit income, that does not force you to complete a Form 11. However if you complete a Form 11 for other reasons, and enter €3,000 Deposit Interest on it, that will be liable for PRSI.

I am not certain about this, however I believe it to be true. Happy to stand corrected if someone with authoritative knowledge of this can factually correct my interpretation.
 
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Thanks, I wonder where is best to confirm this. Revenue's helpline can be very limited in knowledge & responsiveness.

There are many other reasons why the ordinary Joe Soap (who earn less than €5K non-PAYE)
needs to submit a Form 11, other than declaring deposit interest, so if the above is indeed correct & if there's no way to prevent it or claim the PRSI 'overcharge' back retrospectively then it's quite impunitive (Revenue smash & grab effect).
 
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