Aug 2018

15

How will PAYE Modernisation impact on your payroll?

In late 2016, Revenue issued a consultation document outlining their vision for the introduction of Real Time Reporting (RTR) or PAYE Modernisation in Ireland.

This will modernise the Pay As You Earn (PAYE) system, and mean 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.

The new obligations for employers are due to take effect from 1 January, 2019, meaning businesses have a limited amount of time to prepare their payroll systems to be compliant with the new RTR / PAYE Modernisation rules.

Do you use payroll software? If so, there are two methods of reporting payroll in real time:

  • Direct Payroll Reporting - allows your payroll software to communicate seamlessly with Revenue Online System (ROS) and exchange the required information.
  • ROS Payroll Reporting - you can upload files created by your payroll software to ROS.

Payroll software companies have been working with Revenue to ensure that the software will be compatible with Revenue’s requirements. We would advise that you use payroll software, but if you don’t, you will be able to retrieve Revenue Payroll Notifications and complete a form through ROS. This reporting process will eliminate the need to file:

  • P30
  • P35
  • P45
  • P46

P60s

You will no longer be obliged to produce a P60 for your employees. Revenue will produce an end of year statement for all employees.

Information you will report to Revenue

You must provide Revenue with payroll information for each employee, including:

  • Payment date
  • Amount of pay 
  • Amount of Income Tax, Universal Social Charge (USC) and Local Property Tax deducted.

Upcoming free online webinars:

PAYE Modernisation for Employers - Understanding and implementing the new legislation

PAYE Modernisation for Payroll Bureaus - Understanding and implementing the new legislation for your clients

 

Related Articles:

PAYE Modernisation: How successful was it in the UK?
PAYE Modernisation - List of Employees
PAYE Modernisation - The Facts
PAYE Modernisation - Understand how your payroll processing will change

 

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BrightPay Payroll Software | Thesaurus Payroll Manager

Posted byHolly McHughinPAYE Modernisation


Jul 2018

11

Meet the experts behind PAYE Modernisation!

PAYE as you know it is changing - in just a few short months Revenue are revamping and modernising the existing PAYE system. This is called PAYE Modernisation. This new PAYE system will be very different. Instead of a monthly or quarterly P30, a submission containing pay information will need to be made to Revenue each time an employee is paid. This is known as a Payroll Submission Request, or a PSR.

By sending this information to Revenue in real time, it will enable employers to pay the correct amounts of deductions for every employee, also eliminating the need to submit a P35 at the end of the tax year. Overall, this will improve the accuracy, ease of understanding and transparency of the PAYE system for all stakeholders, including employers, employees and Revenue.

While PAYE Modernisation will bring many benefits, some employers are finding it difficult to fully understand the new system; When will payments need to be made to Revenue? Can corrections be made after the submission has been sent? What will happen when broadband is not available or very poor and weekly submissions have to be made?

Ask the Experts!

Every employer has concerns that they are unsure about. Thesaurus Software is giving you the chance to join the experts to ask them any queries you may have with free online PAYE Modernisation webinars.

Thesaurus Software has the expertise and understanding regarding PAYE Modernisation. We have already experienced the implementation of a similar real time reporting system in the UK, known as RTI. Thesaurus Software’s Managing Director, Paul Byrne, is a key stakeholder working with Revenue towards the design of this new PAYE system for Ireland.

For the webinars, Paul Byrne will be joined by guest speakers Sinead Sweeney, who is the PAYE Modernisation Change Manager for the Revenue Commissioners, and Sandra Clarke, Partner at BCC Accountants and a Council Member of the Irish Tax Institute.

Click here to register and find out more about Thesaurus Software’s upcoming PAYE Modernisation webinars.


Related articles:

Thesaurus Payroll Software | BrightPay Payroll Software

Posted byRachel HynesinPAYE Modernisation


Jul 2018

4

PAYE Modernisation: What you need to know

PAYE Modernisation - The Facts

PAYE Modernisation is a mandatory payroll requirement that will be introduced from the 1st of 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. Employers should take steps to ensure their existing records are up-to-date and correct.

Find out more
 

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 a simple and easy to use payroll software that makes your payroll journey hassle free. With a 99% customer satisfaction rate and free customer support, BrightPay is the payroll solution to help you with PAYE Modernisation.

Book a demo | Find out more 

Free PAYE Modernisation Training

BrightPay has teamed up with Revenue as guest speakers to bring you free PAYE Modernisation training webinars throughout the year. All webinars are CPD accredited and free to attend. Our next webinar is PAYE Modernisation: Understanding and implementing the new legislation which takes place this September. Places are limited - book your place now to avoid disappointment.

Payroll bureau webinar | Employer webinar
 

PAYE Modernisation: Frequently Asked Questions

PAYE Modernisation or Real Time Reporting is probably the biggest overhaul of the PAYE system since PAYE was introduced back in 1960. Many employers are worried about this new system and how it will affect their payroll processing. Find out some of the most common questions people have asked about PAYE Modernisation.

Frequently asked questions
 

Proposed Client Letter for PAYE Modernisation

Keeping your clients informed and up-to-date will be a key step to successfully transfer to the new PAYE Modernisation system. To assist our customers, we have created a template letter for payroll bureaus to send to their clients as an initial communication with regards to PAYE Modernisation. We will also have a sample letter of engagement available for payroll bureaus later this year.

Download template
 

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Thesaurus Payroll Software | BrightPay Payroll Software

Posted byRachel HynesinPAYE Modernisation


Jun 2018

22

PAYE Modernisation - List of Employees

In preparation for PAYE Modernisation, Revenue will soon be asking employers to send a list of their employees through Revenue's Online Services (ROS).  This list will ensure that both Revenue and employer records are accurate and up to date.

The list must include:

  • employees who are currently in your employment (including directors)
  • employees on long term leave such as maternity leave or sick leave
  • pensioners in receipt of payments
  • seasonal or temporary employees for whom you have not completed the P45 process
  • employees on a career break for whom you have not issued a P45
  • employees for whom you have received a PAYE Exclusion Order

Employees who are currently on a career break and have been issued with a P45 are not to be included.


Before you send your list, please ensure you have:

  • entered a PPS Number for all employees
  • issued a P45 to any employees that have left your employment
  • submitted P45 Part 3/P46 for any employees that have commenced employment 
  • entered the employer address, this can be entered/amended by going to File > Amend Company Details


You can create the 'List of Employees' file within Thesaurus Payroll Manager by selecting ROS > List of employees.

Please note, to ensure the return includes all new employees only prepare the return when all new employees have been included in a pay run.

 

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 Thesaurus Payroll Software | BrightPay Payroll Software

Posted byAudrey MooneyinPAYE ModernisationPayroll Software


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.

 

Related Articles:

 Are you missing out on our newsletter? We will not be able to email you without you subscribing to our mailing list. You will be able to unsubscribe at anytime. Don’t miss out - sign up to our newsletter today!

 

Thesaurus Payroll Software | BrightPay Payroll Software

 

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

 

Related Articles:

 

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