Calculate Irish Sole Trader taxes: Income Tax, Class S PRSI (4.1%), 3% USC surcharge on profits over €100,000, and 31 October Preliminary Tax obligations.
Revenue Ireland Self-Assessment Form 11 parameters
Net Trading Profit: €70,000
Pay 100% of last year or 90% of current year to avoid interest.
Credits: −€4,000
Min €500 statutory floor
Standard 4 bands
Protects against underpayment interest penalties.
Best if your profits dropped significantly this year.
Net\ Profit = Turnover - Expenses \\
Taxable\ Income\ Tax = \max(0, Gross\ Tax(20\%, 40\%) - Credits) \\
PRSI_{Class\ S} = \max(€500, Net\ Profit \times 4.10\%) \\
USC_{Self\text{-}Employed} = Standard\ Bands + \max(0, Net\ Profit - €100,000) \times 3\% \\
Preliminary\ Tax = \min(100\% \times Prior\ Year, 90\% \times Current\ Year)Under Irish Revenue Self-Assessment regulations, sole traders pay Income Tax on net trading profit (turnover less allowable expenses) after deducting personal and Earned Income Tax Credits (€2,000). PRSI Class S is charged at 4.10% (min €500/yr), and a 3% USC surcharge applies to profits over €100,000, bringing top marginal USC to 11%.
All calculations, amortizations, and scenario projections displayed on this page are strictly for informational and educational purposes. Nothing herein constitutes investment, financial, tax, or legal advice. Actual Central Bank of Ireland mortgage caps, Revenue PAYE/USC/PRSI rules, and lender criteria may vary. Calconova explicitly disclaims all liability for any decisions taken based upon these calculations. Consult a qualified financial advisor, CPA, or Irish Revenue documentation prior to executing financial commitments.
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