No. Sole Traders do not receive Schedule E income from their businesses. Employees of Sole Traders, however, can avail of the Scheme.
For self-employed people, so long as they are in receipt of “Schedule E” income from their company (on which income tax, PRSI and USC is being deducted), they are entitled to avail of the scheme. Note, however, that as there is no employer PRSI for self-employed workers so the overall tax savings may be 11.15% less than for employed workers.
For more details, and to download a comprehensive pdf guide, please visit our Small Benefit page.