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Address: 82 North Main Street, Bandon, Co. Cork, P72 T971
Tel: (023) 884 1560 | Email: info@odmaccountants.ie

PAYE Modernization and ‘’real time’’ Reporting


The PAYE Modernisation Project will involve the most significant reform of the PAYE system since its introduction in 1960.

The new obligations will be effective from 1 January 2019.

The redesigned PAYE system means that employers will be required to report pay, tax and other deductions, as well as details of employees leaving the organisation, at the same time as they run their payroll. This will ensure the correct amounts of Income Tax, Pay Related Social Insurance, Universal Social Charge and Local Property Tax are deducted at the right time and from the right employees

 

How will these changes affect my business?

 

The reporting obligations for smaller employers will increase, especially those taking advantage of Direct Debit options. Instead of making one single return per year (i.e. P35), it will be compulsory that employers fill in an Employer Submission for each period.
Amendments to the payroll will be more complex
Adopting the new PAYE system may require additional training within the business

 

Want to know more? Our experienced team can help:


Lisa O'Connell

Managing Director

Email Lisa

John O'Sullivan

Audit Director

Email John

Bridget Cronin

Payroll Manager and Finance Manager

Email Bridget

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