PAYE Modernisation 2019 – ARE YOU READY?
Revenue are undertaking a major change to the payroll tax system with effect from 1st January 2019 – this project is called PAYE Modernisation.
This change will impact every single employer in Ireland – big or small and it’s extremely important that your business has measures in place from 1st January to be able to comply with new Revenue obligations.
This major change will mean that the processing of wages will be done in “real time”. This means you will have to connect with the Revenue Online System each pay period before paying employees to ensure their tax deductions are correct. If you don’t use payroll software to calculate your wages, this is going to be even more time-consuming and complicated.
Holiday cover and illness cover are now issues that many businesses have to address because, in most cases, one person is responsible for wage calculations. In 2019, this will very quickly become a big issue for businesses who don’t have an alternative person available when the Payroll administrator is out through illness or annual leave and the payroll needs to be processed in real time.
Outsourcing your payroll is a reliable, economical alternative to processing your own payroll. It will remove headaches about learning the new system or making sure you have the pay information in on time to Revenue.
Give our office a call or drop us an email and we will be able to chat about whether Outsourcing is the solution for you.