Jun 2018

18

PAYE Modernisation: How successful was it in the UK?

It is now over three years since the UK implemented RTI (Real Time Information) which is their equivalent to PAYE Modernisation. Similar to PAYE Modernisation’s objective, RTI was setup to ensure employers and employees will have the most accurate, up-to-date information relating to pay and tax deductions.

Success or Failure?

A recent review of the success of RTI revealed that the system did achieve what it set out to do. RTI has enabled the tax and benefits system to become more responsive than ever before - PAYE payments and debt are dealt with more effectively, and the flow of PAYE payments to the Exchequer has also improved. There have been year-on-year improvements for RTI and in 2016 a study found that 99% of businesses had integrated it into their payroll processes.

Ireland to follow suit...

PAYE Modernisation is to come into force in Ireland in January 2019. It will be the biggest change to the PAYE system since the introduction of PAYE itself. Our UK payroll software, BrightPay UK implemented RTI successfully and streamlines the process. We have the relevant experience to ensure that PAYE Modernisation is just as seamless in Ireland.

If you would like to see what PAYE Modernisation will look like book an online demo today.

 

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Posted byCailin ReillyinPAYE Modernisation


May 2018

29

PAYE Modernisation - Understand how your payroll processing will change

The way you process your payroll is changing forever. PAYE Modernisation is a new system that is being introduced where all employers must comply and implement the new PAYE changes. From the 1st January 2019, your payroll will need to be processed in real time, where employers will be required to calculate and report their employees pay and deductions as they are being paid. This PAYE reform aims to make it easier for employers to pay the correct amount of income tax, PRSI, USC and local property tax and send these figures directly through to Revenue.

PAYE Modernisation will now become a part of the payroll process each pay period. Employers, payroll bureaus and accountants will need to review their current processes to meet the new requirements in January 2019. Join Thesaurus Software for a free webinar where we can peel back the new legislation and take you through how PAYE Modernisation will affect you and your payroll processing.

We are delighted to be joined by Sinead Sweeney, who is the PAYE Modernisation Change Manager for the Revenue Commissioners. Sinead is very much on the front line when it comes PAYE Modernisation and will also deliver a presentation from Revenue’s perspective.

Agenda:

  • An overview of PAYE Modernisation
  • Elimination of the P forms - P30, P60 P35, P46 and P45 forms
  • Recent updates and changes to PAYE Modernisation
  • How payroll software will handle real time processing
  • Making corrections in real time
  • Can PAYE Modernisation be processed manually?
  • Are you ready for "on or before" reporting?
  • The impact of PAYE Modernisation on employees
  • Bureau payroll: Communications and processes 
  • How Thesaurus Software and BrightPay are helping
  • Revenue presentation

 

Register here

 

Thesaurus & BrightPay Newsletter - Are you missing out?

GDPR is changing how we communicate with you. After May 2018, we will not be able to email you about webinar events, special offers, legislation changes, other group products and payroll related news without you subscribing to our newsletter. You will be able to unsubscribe at anytime. Don’t miss out - sign up to our newsletter today!

 

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Posted byKaren BennettinPAYE Modernisation


May 2018

8

PAYE Modernisation - The Facts

PAYE Modernisation is a mandatory payroll requirement that will be introduced from the 1st January 2019. It won’t change the way you calculate your PAYE information, it just means that you will need to send your data through to Revenue in real time. Every time you pay your employees (i.e. each pay period), you will need to submit PAYE information to Revenue, through an API link via your payroll software. This is compared to the current system where reporting is required just once a year at the payroll year end.

Employers should take steps to ensure their existing records are up-to-date and correct. Employer duties include:

  • Register as an employer (for new employers).
  • Take reasonable steps to verify the PPSN provided by employees, e.g. check it against:
    • Public Services Card
    • Tax Credit Certificate from a previous employment
    • P45
    • P60
    • Any item of correspondence from Revenue quoting the PPS number. 
  • If an employee does not hold a PPS number, advise them to contact the Department of Social Protection to apply for one.
  • Register all employees with Revenue (i.e. P45(3) or P46 where the employee has no P45). Where the new employee has not worked in Ireland before, the employee must register the employment online using the Jobs and Pension service available in myAccount. The Jobs and Pension service can also be used by employees who are changing from one employment to another. Once the employment has been registered, Revenue will issue a tax credit certificate.
  • Issue a P45 when an employee ceases employment and submit it to Revenue.
  • Ensure that they have received an up-to-date tax credit certificate for each employee. The leaflet outlines the basis of tax which should be applied on the first payday of a new tax year in the event that an up-to-date tax credit certificate for that year is not received.
  • Ensure that they hold a complete PAYE, PRSI and USC record for each employee at the end of the tax year.

PAYE Modernisation Compliant Software

To comply with PAYE Modernisation you will need to utilise fully compliant payroll software. BrightPay is working directly with Revenue to ensure this new real time process is as easy as possible for our customers. BrightPay is simple and easy to use payroll software that makes your payroll journey hassle free. With a 99% customer satisfaction rate and free customer support, Thesaurus and BrightPay are the payroll solutions to help you with PAYE Modernisation.

Free PAYE Modernisation Training

BrightPay has teamed up with Revenue as guest speakers to bring you free PAYE Modernisation training webinars throughout the year. Find out more on our events page or subscribe to our newsletters to ensure you never miss out on free training again.

Upcoming Webinars: Understanding and implementing the new legislation

The way in which we communicate and send payroll information to Revenue is changing. The objective of PAYE Modernisation allows for Revenue, employers and employees to access the most accurate, up-to-date information relating to pay and statutory payroll deductions.

Agenda:

  • PAYE Modernisation: Understanding and implementing the new legislation for your clients
  • Guest Speaker: Sandra Clarke (BCC Accountants)
  • Guest Speaker: Sinead Sweeney (Revenue)

Places are limited - make sure to book your place now to avoid disappointment: 
Register for Payroll Bureau Webinar | Register for Employer Webinar


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Posted byHolly McHughinPAYE Modernisation


Apr 2018

19

Real time reporting to become part of payroll processing

In less than a year the current PAYE system is going to change remarkably with the introduction of real time reporting known as PAYE Modernisation. The current payroll system hasn’t been modified since it was first introduced in the 60’s.

The main objective of PAYE Modernisation is to enable clear communication between Revenue and those who are processing payroll. This change will affect most, if not all businesses across Ireland.

Some of the common questions people have asked about PAYE Modernisation are:

  • What do I have to do differently for PAYE Modernisation?
    PAYE Modernisation will mean that people processing payroll will now how to submit a file to Revenue every pay period as opposed to the current annual ‘P’ forms. Payroll Software will make this a hassle free process, ensuring employers can easily comply with PAYE Modernisation.

  • Will PAYE Modernisation be complicated?
    PAYE Modernisation will likely cause a significant burden to employers, particularly small employers that do not currently utilise payroll software. BrightPay and Thesaurus Software will be fully equipped to make PAYE Modernisation a seamless process for payroll processors. Our developers have already implemented a similar real time reporting process for our UK payroll software.

  • What will PAYE Modernisation cost my business?
    As reports will need to be submitted to Revenue every pay period a lot of businesses will be relying on payroll software to do this for them. If you do not have payroll software in place, now is the time to think about purchasing. Luckily, low cost payroll software, like BrightPay and Thesaurus payroll will seamlessly handle PAYE Modernisation.

  • Will PAYE Modernisation take up a lot of my time?
    For companies still processing payroll manually, PAYE Modernisation will likely impose a significant time burden. For employers utilising payroll software like BrightPay and Thesaurus Software, administrative tasks will be significantly simplified. PAYE Modernisation reports required by Revenue can be sent easily from within the software. Also, the introduction of PAYE Modernisation has meant the elimination of the time consuming annual ‘P’ forms.


Free PAYE Modernisation Webinars

If there is something you’re still unsure of relating to PAYE Modernisation, we have teamed up with Revenue to bring you free online training webinars. These webinars are designed for employers and payroll bureaus to discuss what PAYE Modernisation will mean for your business and to help you prepare for the transition to the new system. You can sign up to our newsletter to get an invitation to our next PAYE Modernisation webinar.

 

Thesaurus & BrightPay Newsletter

GDPR is changing how we communicate with you. After May 2018, we will not be able to email you about webinar events, special offers, legislation changes, other group products and payroll related news without you subscribing to our newsletter. You will be able to unsubscribe at anytime. Don’t miss out - sign up to our newsletter today!

Thesaurus Payroll Software | BrightPay Payroll Software


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Posted byCailin ReillyinPAYEPAYE ModernisationPayrollPayroll Software


Apr 2018

5

PAYE Modernisation - An Introduction

From January 2019 businesses across Ireland will be required to start complying with PAYE Modernisation.  Employers will be required to submit records electronically to Revenue each time a payroll is run (whether it’s weekly, monthly or quarterly), instead of annually.  Revenue have reported that PAYE Modernisation will serve a number of purposes and ultimately benefit all employers.

Some of the key benefits employers include:

  1. Seamless integration into payroll.
  2. Minimize employer cost to comply.
  3. Abolition of P30s, P45s, P60s and end of year returns.
  4. Right tax paid on current due dates.
  5. Time saving.

 It is vital that employers are prepared in order to ensure that the transition in January 2019 is as smooth as possible and to avoid any potential penalties from Revenue.

Our payroll software will help ensure you are fully prepared to make your first submission in January 2019. To get an overview of how PAYE Modernisation will look like on your payroll, book an online demo today.

 

Free PAYE Modernisation Webinar

PAYE Modernisation is a new system that is being introduced where all employers must comply and implement the new PAYE changes. From the 1st January 2019, your payroll will need to be processed in real time, where employers will calculate and report their employee's pay and deductions as they are being paid. This PAYE reform aims to make it easier for employers to pay the correct amount of income tax, PRSI, USC and local property tax and send these figures directly through to Revenue.

  • PAYE Modernisation - Understand how your payroll processing will change
  • Guest Speaker: Sandra Clarke (BCC Accountants)
  • Guest Speaker: Sinead Sweeney (Revenue)

Register Here

 

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Thesaurus Payroll Software | BrightPay Payroll Software

Posted byCailin ReillyinPAYE ModernisationPayroll


Mar 2018

12

The ins and outs of PAYE Modernisation

The objective of PAYE modernisation is to deliver Real Time Information (RTI) so that Revenue, employers and employees have up-to-date information relating to tax deductions and pay. This will improve the transparency and understanding of the PAYE system for all stakeholders. For example, this will ensure that the right tax deduction is made at the right time from the right employees and that employers pay over the correct tax deduction and contribution for every employee.

SMART PAYE sets out the key design principles of the project. The project will meet its objectives while also ensuring the benefits to all stakeholders by working to these principles.

What are the benefits?


For Revenue:

  • Statutory in-year returns
  • Making compliance easier
  • Accurate up-to-date income details
  • Reduced customer contacts
  • Timely targeted interventions

For an Employer:

  • Seamless integration into payroll
  • Minimise employer cost to comply
  • Abolition of P30s, P45s, P60s and end of year returns
  • Right tax paid on current due dates
  • Time savings

For an Employee:

  • Simplified online services
  • Maximise use of entitlements
  • Automatic end of year review
  • Real time accurate data
  • Transparency


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Thesaurus Payroll Manager | BrightPay Payroll Software

 

Posted byHolly McHughinPAYE Modernisation


Feb 2018

22

Getting Ready for PAYE Modernisation

January 2019 will see the introduction of PAYE Modernisation - the most significant reform of the Irish PAYE system since its introduction in 1960. This new system will mean that employees’ pay and deductions will need to be reported to Revenue in real time.

PAYE Modernisation will be operational for all employee payments being made from 1st January 2019 and will make it easier for Revenue, employers and employees to ensure that the right tax is deducted and paid at the right time.

As a result, employers and payroll bureaus will need to review their current business processes and practices in order for the new requirements to be met.

Free PAYE Modernisation Webinars

To help with the rollout of PAYE Modernisation, BrightPay by Thesaurus Software have teamed up with Revenue to bring you free online training webinars. These webinars are designed for employers and payroll bureaus to discuss what PAYE Modernisation will mean for your business and to help you prepare for the transition to the new system.

Our next PAYE Modernisation webinars take place in March and are free to attend. Guest speakers include Sinead Sweeney (Revenue) and Sandra Clarke (Irish Tax Institute).

If you are unable to attend the webinar at the specified time, simply register and we will send you the recording afterwards.


Sign up to BrightPay’s newsletter

GDPR is changing how we communicate with you. After May 2018, we will not be able to email you about webinar events, special offers, legislation changes, other group products and payroll related news without you subscribing to our newsletter. You will be able to unsubscribe at anytime. Don’t miss out - sign up to our newsletter today!

Subscribe to mailing list

Thesaurus Payroll Software | BrightPay Payroll Software

Posted byRachel HynesinEventsPAYE Modernisation


Feb 2018

5

PAYE Modernisation - Why it’s the SMART choice.

The current PAYE system is changing. The new system will be known as ‘PAYE Modernisation’. This change will be the biggest to hit PAYE since it was introduced almost 60 years ago. PAYE Modernisation will affect every business across the country. Instead of submitting an annual P35, employers will now have to calculate and report their employee’s pay and deductions as they are being paid.

PAYE Modernisation will no doubt be a huge change for employers but ultimately, employers will see a benefit from the change. Here are some of the key benefits employers can expect to see from PAYE Modernisation

 

  • Seamless integration into payroll.
  • Minimize employer cost to comply.
  • Abolition of P30s, P45s, P60s and end of year returns.
  • Right tax paid on current due dates.
  • Time savings.

 

We already have the relevant experience to ensure that PAYE Modernisation will be a seamless process for employers. In our BrightPay UK payroll software, we implemented what’s called RTI or Real Time Information which is a similar concept to PAYE Modernisation. Book a demo today to see what PAYE Modernisation will look like on your payroll software.

 

 

Related articles:

PAYE Modernisation - Are you ready?
Revenue moves to PAYE Modernisation/ Real Time Reporting
New Automatic Enrolment pension system to be in place by 2021
The objective of PAYE Modernisation

 

 

Thesaurus Payroll Software | BrightPay Payroll Software

 

Posted byCailin ReillyinPAYEPAYE Modernisation


Jan 2018

22

How will PAYE Modernisation affect your payroll bureau? Only 10 Places Left!!!

Revenue are joining Thesaurus Software for a series of free, CPD accredited webinars detailing what you need to know about PAYE Modernisation.

 

How will PAYE Modernisation affect your payroll bureau?

There are just 10 places left for our next webinar which takes place this Thursday! With almost 1,000 accountants and payroll bureaus already registered, this is your last chance to register. 

Agenda

  • An introduction to PAYE Modernisation including recent changes
  • What direct effect will this have on employers?
  • What direct effect will this have on employees?
  • What are the possible downsides for employers?
  • Revenue’s delivery schedule 
  • The role out of PAYE Modernisation in the UK
  • Processing manually or using payroll software?
  • The letter of engagement
  • How will PAYE Modernisation affect your payroll service
  • Communicating these changes to your clients. 

Don’t miss out - book your place now!!

 

Payroll Bureaus: Getting Ready for PAYE Modernisation
The next webinar in the series takes place in March where there will be a key focus on what payroll bureaus need to do to prepare for PAYE Modernisation.

Find out more | Register now

 

Subscribe to our Newsletter
We have lots more webinars scheduled over the coming months. Don’t miss out - make sure to sign up to our newsletter today! You will have the option to unsubscribe at any time.

 

Thesaurus Payroll Manager | BrightPay Payroll Software

 

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Posted byRachel HynesinPAYE ModernisationPayroll Software


Jan 2018

8

GDPR unravelled! Find out what you need to know to comply

Get ready as more legislation hit Irish and European businesses. The objective of the recent EU General Data Protection Regulation (GDPR) is to bring data protection standards up-to-date and to ensure that individuals in the EU are appropriately protected from privacy and data breaches. It comes into effect on 25th May 2018, however this date is a deadline as opposed to a starting point.

 

Business owners who start looking at GDPR on or after the 25th May will be at serious risk of non-compliance. You will need to act now to understand and prepare for GDPR well in advance of the May deadline. Over the next few months, it would be advisable to set aside some time to focus on being fully compliant by the 25th May 2018.

 

BrightPay is committed to helping our customers and others understand the impact of GDPR. We have designed free webinars for accountants and employers to take you through the key steps to be GDPR compliant.

 

Register now for our free webinars which take place over the coming months.

 

Agenda

  • What is GDPR and why is it being implemented?
  • Why employers need to take it seriously
  • How it will impact payroll bureaus
  • How to prepare for GDPR
  • How we are working to help you

 

Employer Webinar: 30th January - Register here
Bureau Webinar (CPD Accredited): 8th March - Register here


Other Free Events


How will PAYE Modernisation affect your business?
The existing PAYE (Pay As You Earn) system was introduced nearly sixty years ago ensuring that correct deductions are made relating to pay and tax. From 1st January 2019, this system for PAYE will undergo a long overdue update called PAYE Modernisation. Under the new legislation, whenever Irish employers pay their employees, a file must be electronically submitted to Revenue containing details of these payments.

 

  • How will PAYE Modernisation affect your business?
  • Guest Speaker: Sandra Clarke (BCC Accountants)
  • Guest Speaker: Sinead Sweeney (Revenue)


Employer Webinar: 24th January - Register here
Bureau Webinar (CPD Accredited): 25th January - Register here

 

Thesaurus Payroll Manager | BrightPay Payroll Software.

Posted byKaren BennettinGDPRPAYE Modernisation