Accountant Cork | O'Donovan Keyes & Co Chartered Accountants | Ireland

Accountant Cork ODK, we will improve your business. Our clients will tell you that.

  • Home
  • How we work
  • Services
    • Audit
    • Annual Accounts
    • Solicitors
    • Taxation
    • Payroll Outsourcing
  • Accounting Login
  • Submit A Form
    • Personal Tax Form
    • Business Kickstart
    • Cashflow
    • Pay Online
  • Help Videos
  • Blog
  • Contact
  • Live Chat

PAYE Modernisation

21/12/2017 By O'Donovan Keyes & Co

The PAYE system as we know it is about to undergo the biggest change since its introduction. From 1 January 2019 real time reporting will mean:

  • There will be no more P45s, P30’s, P60’s or P35’s.
  •  P2Cs will automatically download into the payroll software.
  •  Monthly returns of PAYE will automatically file with Revenue.
  •  All employers will have to submit a list of employees to Revenue.
  •  Employers will need to calculate and report their employees’ pay and deductions as they are being paid.
  •  Returns will be live and up to date so Revenue will be able to audit in the present rather than the past.

Employers and payroll operators should take the following actions now:

  •  Ensure all employees are using the correct PPSN.
  •  Make sure all P2Cs are up to date.
  •  Only use credits as per P2C and emergency tax otherwise.
  •  Review BIK on a quarterly basis.
  •  Ensure that a fully compliant P35 is filed for 2017.
  •  P45 any employees on P2C but no longer employed.

PAYE Modernisation intends for Revenue, employers and employees to have the most up to date information available to them so that employees are paying the correct amount of tax each pay period.

Share this:

  • Print
  • LinkedIn
  • Twitter

Filed Under: Latest News, Uncategorized

Latest Articles

What the All Blacks can teach us about the business of life

When you talk about a premium brand it doesn’t get much more premium than the All Blacks. Legacy by … [Read More...]

Improve Your Bank Balance – 4 Step Action Plan

In less than four minutes we walk you through a simple but powerful case study and offer a 4 Step … [Read More...]

Company Car – SME Tax Implications – Simple Explainer

A recurring query that we have from clients is around the tax treatment of a company car for the … [Read More...]

Have Your Online Banking Publish To Your Accounting Software

Having your online banking post entries directly to your accounting software is not new but … [Read More...]

How Pricing Can Be 5 Times More Effective Than Cutting Overheads

Get your pricing wrong and profitability may be a far off dream. Watch the short video below to see … [Read More...]

3 Ways An SME Can Charge A Premium Price

Below are three ideas for small businesses, which will help you to charge a premium price. The … [Read More...]

More articles

CONTACT US

PHONE + 353 21 4628188
E-MAIL info@odk.ie
 
ADDRESS
O'DONOVAN KEYES & CO
Chartered Accountants & Statutory Auditors
Bridge House
Cork
Ireland

Copyright © 2022 · O'DONOVAN KEYES & CO