USC, PRSI and Minimum Wage

As we head into the new tax year, 2023, there are many changes that are coming in to effect as a result of Budget 2023. It is important that, you as an employer be aware of these changes from a Revenue perspective and an employee rights perspective as a number of them will affect all employers in some way. Please familiarise yourself with the changes and contact us if you require more information. Below is a brief summary of some of the changes.

USC Changes:

  • No changes to rates applied
  • Exemption level remains at €13,000
  • Rate band 2 increased by €1,625 per year in line with increase in national minimum wage
  • Rate band 3 decreased by €1,625
Rate BandsRate
Up to €12,0120.5%
Next €10,9082%
Next €47,1244.5%

PRSI Changes:

Weekly threshold for higher rate of ER PRSI under class A increased from €410 to €441 from 1st January 2023

Minimum Wage:

The national minimum hourly rate will become €11.30 on 1st January 2023

Small Benefit Exemption:

From 2022

  • Increased from €500 to €1,000
  • Can be given up to twice a year (aggregate value can’t exceed €1,000)

Contact Us:

To discuss in confidence what the measures mean for you or your business, please contact our team outlined below, or your usual RBK contact.

  • Mary Byrne, Payroll Manager (090) 6480600

Return to Budget 2023 Update – Changes coming into effect for employers.

Team Members

Rose Bracken

Payroll Director

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