Payroll Legislation

What Is The Irish Budget 2021: PRSI?

Legislation

What Is The Irish Budget 2021: PRSI?

Due Date

1 January 2021

Summary

Irish Budget 2020: Pay Related Social Insurance (PRSI)

Employee PRSI

  • There are no changes in employee rates of PRSI.
  • There is no change to the employee PRSI Credit.

Employer PRSI

  • In line with the increase in National Minimum Wage the upper threshold for paying the 8.8% Class A rate of employer PRSI is increasing from €395 to €398 from 1 January 2021.

Employment Wage Subsidy Scheme

A reduced rate of employer’s PRSI of 0.5% is charged on wages paid which are eligible for the Employment Wage Subsidy Scheme

Making payroll & HR easy