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Employing Son

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  • 16-10-2014 2:42pm
    #1
    Paddyo
    Registered Users Posts: 414 ✭✭


    Hi

    I have a small sole trader business and I am also employed as a PAYE worker.

    I am considering getting my son to work part-time in the sole trader business as a way of earning some money - he is a student and his newly acquired skills can be used by the company.

    Is it a normal Employer/Employee setup. Do I register him with revenue as an employee of the company?

    If I was to pay him €50.00 per week what tax/PRSI/USC etc would be payable by him and the business.

    Thank you for any replies.

    Paddyo


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    #2
    CIARAN_BOYLE
    Registered Users Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Paddyo wrote: »
    Hi

    I have a small sole trader business and I am also employed as a PAYE worker.

    I am considering getting my son to work part-time in the sole trader business as a way of earning some money - he is a student and his newly acquired skills can be used by the company.

    Is it a normal Employer/Employee setup. Do I register him with revenue as an employee of the company?

    If I was to pay him €50.00 per week what tax/PRSI/USC etc would be payable by him and the business.

    Thank you for any replies.

    Paddyo
    Register him as an employee and charge tax as normal.

    Only difference between this an a normal employment is that you can pay zero prsi as he is the family member of a sole trader (class m).

    Given that you are only paying 50 per week tax and usc should be zero if he has no other income.


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    #3
    Greenmachine
    Registered Users Posts: 5,063 ✭✭✭Greenmachine


    How many hours will be working. Would be interested to know if minimum wage still applies when employing a family member in the tax system.


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    #4
    Frynge
    Registered Users Posts: 1,667 ✭✭✭Frynge


    Greenmachine wrote: »
    How many hours will be working. Would be interested to know if minimum wage still applies when employing a family member in the tax system.

    Could be wrong but I don't think min wages applies to immediate family members of sole traders but it does to family members of the directors of a limited company.


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