Confused re PRSI details on Form 11 ROS

Discussion in 'Property investment and tenants' rights' started by wab0607, Nov 10, 2017.

  1. wab0607

    wab0607 Frequent Poster

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    Hi,

    I've just completed inputting all our details online for Form 11. We are basically both PAYE income earners, on similar pay, and only reason for form 11 is as a result of a rental property. Usually I calculate my liability myself first, then input all details on ROS, hit the calculate button and if revenues figure is close to my own (which it always has been in the past) I pay and file.

    Strangely this year the Revenue calculation is showing a much lower PRSI contribution for myself and a zero amount for spouse. Our P60's for 2016 are showing an approx deduction for Employee of about €1700 each. Cannot figure it out as the PRSI is not on PAYE page showing tax and usc deductions. Any help appreciated.
     
  2. wab0607

    wab0607 Frequent Poster

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    Update: Looking at it again it appears that revenue's calculations is only deducting PRSI from the profit on rental property and not showing any of the deductions for PAYE income. Still none the wiser as to why!
     
  3. Joe_90

    Joe_90 Frequent Poster

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    It's because the PRSI is dealt with through the PAYE system on your salary on a weekly / monthly basis and not on the Form 11 like Income Tax and USC.
     
  4. wab0607

    wab0607 Frequent Poster

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    Thanks Joe. Quick question though: the USC and tax deducted from salaries monthly is showing on Form 11. Why is the PRSI not also showing? Apologies if this is a stupid question, just don't remember this from previous years.
     
  5. torblednam

    torblednam Frequent Poster

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    Because PRSI, insofar as it relates to employment income, is calculated and due based on periodic pay, rather than on an annual basis as income tax and USC are.
     
  6. wab0607

    wab0607 Frequent Poster

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    Thanks for all the replies
     
  7. Páid

    Páid Frequent Poster

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    I'm in a similar boat to the OP - PAYE with rental income. I always enter the emoluments, tax credits, PRSI, USC already paid, etc. and get that to balance by clicking the Calculate tab. Only then do I enter Health Expenses, rental income , etc.
     
  8. T McGibney

    T McGibney Frequent Poster

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    Why would that make a difference to anything? :confused:
     
  9. DB74

    DB74 Frequent Poster

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    There is nowhere to enter PRSI paid
     
  10. Páid

    Páid Frequent Poster

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    So that you can be sure that the PAYE details have been entered correctly. The calculate screen should show overpaid/underpaid < €1.

    I'm pretty sure there is.
     
  11. DB74

    DB74 Frequent Poster

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    Oh no there isn't
     
  12. T McGibney

    T McGibney Frequent Poster

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    It will only do that if you don't have any random items like allowable expenses in employment coded into your PAYE, and if your employer hasn't made any errors in calculating your PAYE.
     
  13. Páid

    Páid Frequent Poster

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    Maybe there isn't but I'll check when I get home. I was pretty sure that I entered USC, Income tax, PRSI, etc already paid.

    I was speaking from my experience - it works in my case. If your employer has made an error then it will be highlighted as an underpayment / overpayment.
     
  14. Páid

    Páid Frequent Poster

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    You're right - PRSI isn't there.