Apr 2018
5
PAYE Modernisation - An Introduction
From January 2019 businesses across Ireland will be required to start complying with PAYE Modernisation. Employers will be required to submit records electronically to Revenue each time a payroll is run (whether it’s weekly, monthly or quarterly), instead of annually. Revenue have reported that PAYE Modernisation will serve a number of purposes and ultimately benefit all employers.
Some of the key benefits employers include:
- Seamless integration into payroll.
- Minimize employer cost to comply.
- Abolition of P30s, P45s, P60s and end of year returns.
- Right tax paid on current due dates.
- Time saving.
It is vital that employers are prepared in order to ensure that the transition in January 2019 is as smooth as possible and to avoid any potential penalties from Revenue.
Our payroll software will help ensure you are fully prepared to make your first submission in January 2019. To get an overview of how PAYE Modernisation will look like on your payroll, book an online demo today.
Free PAYE Modernisation Webinar
PAYE Modernisation is a new system that is being introduced where all employers must comply and implement the new PAYE changes. From the 1st January 2019, your payroll will need to be processed in real time, where employers will calculate and report their employee's pay and deductions as they are being paid. This PAYE reform aims to make it easier for employers to pay the correct amount of income tax, PRSI, USC and local property tax and send these figures directly through to Revenue.
- PAYE Modernisation - Understand how your payroll processing will change
- Guest Speaker: Sandra Clarke (BCC Accountants)
- Guest Speaker: Sinead Sweeney (Revenue)
Related Articles:
- 2018 and beyond!
- PAYE Modernisation - What do these changes mean to you?
- The advantages of PAYE Modernisation
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