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efm1
Guest
Hi,
As some avid readers may know I am the sole employee of a limited company in which I am the majority shareholder (99%) - and a recent one at that hence so many questions on the basics !!
Does this make me a Proprietary Director ? ( I assume it does but I just want to get my terminology correct)
If I am a Prop Director in the above scenario what PRSI class should I be in ? - I am assuming S1 BUT the the DSFA website claims that only "certain company directors" Welfare Website qualify for S1 - they then point me to the Code of Practice Code of Practice for Determining Employed or Self Employed but this doesn't seem to make any specific reference to Prop Directors.
I have mentioned this to my accountant but he seems to think I should stay on Class A1 PRSI (in his defence I only mentioned in passing - I may not have been clear enough)
Assuming that I should be classed as S1 does that equate to 0% Employers PRSI and 5% Employees PRSI on my total salary ?
Apologies for the long post - and I know that my accountant is the best person to answer this for me and I will be returning to him but I feel better about talking to him if I understand as much as I can myself beforehand.
efm
As some avid readers may know I am the sole employee of a limited company in which I am the majority shareholder (99%) - and a recent one at that hence so many questions on the basics !!
Does this make me a Proprietary Director ? ( I assume it does but I just want to get my terminology correct)
If I am a Prop Director in the above scenario what PRSI class should I be in ? - I am assuming S1 BUT the the DSFA website claims that only "certain company directors" Welfare Website qualify for S1 - they then point me to the Code of Practice Code of Practice for Determining Employed or Self Employed but this doesn't seem to make any specific reference to Prop Directors.
I have mentioned this to my accountant but he seems to think I should stay on Class A1 PRSI (in his defence I only mentioned in passing - I may not have been clear enough)
Assuming that I should be classed as S1 does that equate to 0% Employers PRSI and 5% Employees PRSI on my total salary ?
Apologies for the long post - and I know that my accountant is the best person to answer this for me and I will be returning to him but I feel better about talking to him if I understand as much as I can myself beforehand.
efm