Self employed or PAYE

phelixoflaherty

Last year I register a company but it did not work out, Zero earnings. This was evening work, but in the meantime I was working a PAYE job during the day.
In the tax office today they told me I was self employed.
How does this affect my PRSI and paye?
Will it affect me if I become unemployed?

Stheno

phelixoflaherty wrote: »

Last year I register a company but it did not work out, Zero earnings. This was evening work, but in the meantime I was working a PAYE job during the day.
In the tax office today they told me I was self employed.
How does this affect my PRSI and paye?
Will it affect me if I become unemployed?

You need to clarify this with the Revenue ASAP.

IF the Revenue now consider you self employed and this is the first full tax year in which that is the case you will lose your PAYE tax credit, which is half of your credits.

In terms of PRSI and becoming unemployed, it shouldn't affect you once you get it clarified, if however you do not sort it out and are classed as self employed as a company director then it affects your PRSI benefits.

I'd go to your local tax office if I were you, with your P60, details of your employment and explain that the company you registered didn't generate any income and that you have been a full employee as opposed to self employed.

phelixoflaherty

Thanks a million for that. Will do.