ARTICLE · 12 MAY 2011

Universal Social Charge

Smith & Williamson

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The introduction of the Universal Social Charge (USC), a single charge consolidating and replacing the income and the health levy from 1 January 2011, was among the most significant announcements in the Irish Budget 2011.

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David Drury

A summary of the new Universal Social Charge and its effects on individuals

The introduction of the Universal Social Charge (USC), a single charge consolidating and replacing the income and the health levy from 1 January 2011, was among the most significant announcements in the Irish Budget 2011. Despite initial indications by the minister in his 2011 Budget speech, PRSI remains a separate charge from the USC.

Who is liable and on what income?

All individuals are liable to the USC where their income exceeds €4,004 for the year. In addition to income chargeable to income tax, certain income exempt from income tax is included e.g. dividends from companies exempt from corporation tax and income covered by the artists exemption.

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