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Getting ready for PAYE Modernisation
On January 1st of 2019, the biggest shake-up in the Irish PAYE system since 1960 will come into effect, known as PAYE Modernisation, it means that employers will have to calculate and report the pay and deductions of all their staff in real time.
The logic behind PAYE Modernisation is that by reporting deductions and payments as they’re being made, it will make it easier to ensure that the correct amounts of Income Tax, USC, PRSI, and LPT are all paid exactly when they are due, meaning that over-payment or underpayment of taxes will become a thing of the past.
-Webinar On-Demand –
Are You Ready For It?
In the run-up to PAYE Modernisation, all employers and payroll bureaus need to review and amend their current practices, giving themselves enough time to have new systems in place by January 1st next.
In this PAYE Modernisation webinar recording Revenue & Pimbrook covered the following key areas:
- A brief introduction to PAYE Modernisation
- What it all means to employers and their agents
- The implications and benefits for the workforce
- Revenue’s timelines and rollout schedule
- Potential pitfalls for employers
- Differences between processing Payroll manually and using software from January 1st
PAYE Modernisation will be effective from 1st January 2019 –
start preparing ..
By watching this video recording we hope that you’ll be more prepared in the short-term and this will eventually lead to a reduction in the admin burden on you as an employer and enable you to fulfill PAYE obligations with confidence.
*All information was accurate at time of recording on April 25th, 2018