PAYE Tax Credit - Self employed

W

wexgirl

Registered User
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Hi,

I registered as self employed last year where i have a small income, I also am a PAYE worker employed on a parttime basis.

My question is regarding the PRSI tax credit, can i still claim this as i am an employee also or does it go from the moment i registered as self employed?
 
Re: PRSI Tax Credit - Self employed

Sorry about that, i meant the PAYE Credit of €1490 that you lose when a person becomes self employed. I just wanted to know if a person could keep it if majority of income still from PAYE earnings? :eek:
 
Re: PRSI Tax Credit - Self employed

wexgirl said:
Sorry about that, i meant the PAYE Credit of €1490 that you lose when a person becomes self employed. I just wanted to know if a person could keep it if majority of income still from PAYE earnings? :eek:
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AFAIK you can still claim the credit but your credits have to be allocated to your PAYE employment. I'd check this out with Revenue Commissioners. Better to know sooner rather than later!
 
Your PAYE source gross income must exceed €1490/.2=€7450 to be able to avail of the credit.
 
bazermc said:
Your PAYE source gross income must exceed €1490/.2=€7450 to be able to avail of the credit.
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Not 100% true. If you earn less, say €3,000 you will get a credit of €600 (3K @20%)
 
Thanks very much everyone, i actually earn approx €15k PAYE income so looks like i am entitled to it!!:D
 
As Ham Slicer says, you are entitled to it (pro rata @ 20% standard rate) even if you earn as little as €50 p.a. from PAYE employment.
 
Sorry thanks folks - Not awake this morning
You must earn €7,450 to obtain the max credit......but of course you will get a reduced credit pro-rata to your gross income
 
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