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A guide to self-assessment

  1. Overview
  2. Who should register for Income Tax self-assessment?
  3. What is preliminary tax?
  4. Pay and file system - how does it work?
  5. What forms do you need to complete?
  6. How do you know what to pay?
  7. Do you need to pay 'Pay Related Social Insurance' (PRSI)?
  8. High Income Earner Restriction (HIER)

Do you need to pay 'Pay Related Social Insurance' (PRSI)?

You must pay PRSI if you are self-employed and you meet the following two requirements:

  • you have a minimum annual income of €5,000
  • you are aged between 16 and 66. 

Your PRSI is calculated on your gross income once any capital allowances have been deducted. If you are self-employed, you usually pay PRSI at Class S. This rate is 4% of your gross income, with a minimum payment of €500.

For more details on PRSI for the self-employed and your welfare entitlements, see the Department of Social Protection (DSP) website.

Next: High Income Earner Restriction (HIER)

Published: 02 December 2022 Print this page

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