Do your employees understand PAYE modernisation?
28 Feb 2019
Whilst you, as an employer, are fully up to speed and aware of the PAYE modernisation changes that have taken effect since the 1st January 2019, are your employees aware of what this means for them?
The objective of the PAYE modernisation process is to deliver real time information so that Revenue, employers and employees have the most accurate, up to date information relating to pay and tax deductions. As a result, there has been an abolition of P2C tax credit certificates, P45’s and P60’s.
Responsibility now lies with the employee to ensure that their personal affairs are up to date, including the correct registration of all employments and the correct allocation of tax credits with current employers.
Here at Anne Brady McQuillans DFK we can offer a 2-hour in-house information session for your employees. During each session employees are provided with a thorough understanding on how PAYE modernisation affects them and at the same time we can include a “how to read your payslip” session.
This is a great way for employers to reduce payroll queries and give something back to your employees. It could also result in potential tax refunds for your employees!
PAYE Health Check
Have you ever considered having a health check carried out on your payroll records?
While many companies have complete faith in their payroll software, there are many calculations that have to be prepared outside of payroll software, which must adhere to strict legislation.
Your company may benefit from having a payroll health check carried out to ensure your records are in line with current legislation and practice, in addition to enhancing confidence in your payroll personnel that the work they carry out is correct.
By making a voluntary disclosure, should any issues arise, you will mitigate your exposure to interest and penalties in comparison to those that would arise from Revenue interventions and audits.
If you would like to avail of these services, please contact our Tax Manager, Nicola Foster, at firstname.lastname@example.org or on
01-478 6617 for further assistance.