form 11 2010 & paye

[apple]

Hi All

I hope you can help me. for the first six months of this year I was self employed sole trader and than I became a contractor of an umbrella company.
When I was was a contractor I became an employee and paid the ee & er prsi.
My question is Im trying to do my form 11 and save a few quid. and when I enter in the the details on my p60, income levy and profit as per my 6 months account, it appears Im paying prsi twice, the prsi I paid as an employee and then the prsi Im paying on my total income, is that right?

 

[mandelbrot]

Hi All

I hope you can help me. for the first six months of this year I was self employed sole trader and than I became a contractor of an umbrella company.
When I was was a contractor I became an employee and paid the ee & er prsi.
My question is Im trying to do my form 11 and save a few quid. and when I enter in the the details on my p60, income levy and profit as per my 6 months account, it appears Im paying prsi twice, the prsi I paid as an employee and then the prsi Im paying on my total income, is that right?

The form 11 should only charge you PRSI on your self employed income... it always assumes that the PRSI on the P60 has already been collected through the PAYE system and disregards it completely. Have you checked what amount it is charging PRSI on?

 

[Gervan]

There is no place on the Form 11 to enter employee Prsi. Even if your final calculated Prsi comes up to the minimum €253, the amount you would have paid as an employee is deducted from the final liability.
You don't pay twice.

 

[apple]

thanks guys, so just to be clear health & income levy as per form 11 €2767.00, Employees prsi and income levy paid by p60 €2842 so amount to be paid to revenue €75.00

 

[mandelbrot]

thanks guys, so just to be clear health & income levy as per form 11 €2767.00, Employees prsi and income levy paid by p60 €2842 so amount to be paid to revenue €75.00

NO!

Absolutely not unfortunately. You had me second guessing myself so I've downloaded ROS offline and mocked up a F11 just to make sure... Look at the calculation of the Health Levy and Income Levy on the F11:

The health levy and PRSI you see on your P60 are just the amount relating to the employment, and the PRSI and Health Levy on the Form 11 are just the amount that's due on your self employed income (look at the amount that it is calculating them on - it will only be the amount of your assessable profit).

As for the Income Levy, you'll see that it is charged on all income - you should also have entered the amount of income levy deducted by your employer, so the F11 then knows exactly how much additional income levy is due, on the F11.

But anyway, the bottom line is (assuming you fill in the form correctly) you owe whatever the calculation says you owe; nothing is calculated twice!