Advice on Form11 and paying minimum PRSI contribution on ROS?

mikeyclare

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Hi

I have made a loss in my first year of business but someone has said to me I should pay the minimum PRSI contribution, is this correct? And if so how do I elect to pay this minimum PRSI when filing the form 11 on ROS?

Thanks

Mike
 
Thank you for your reply, I presume it is best to make this voluntary PRSI contribution of €253?
 
If you have no obligation to make a PRSI contribution you should certainly be making a voluntary one ASAP.
You need to fill up the application form to become a voluntary contributor within a year of the last payment or credit
 
I note the minimum contribution is now €500 annually with the Departments website updated today, not sure if this is related to the Budget.
 
If you have no obligation to make a PRSI contribution you should certainly be making a voluntary one ASAP.
You need to fill up the application form to become a voluntary contributor within a year of the last payment or credit

Something I don't understand about this -- the rules for voluntary contributions depend on what class your last contributions were (class A PAYE; class S self employed etc.). If I'm reading it right, the rate is 6.6% of your last year's income if you were class A. Can this be right? If you voluntarily give up employment (to work for charity, let's say) and are neither officially unemployed or self employed, you have to pay 6.6% of your last year's salary even if you now have zero income?? (I realise it's voluntary, but still, if you want to keep up payments for state pension purposes).
 
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