Oct 2018

12

How to Master PAYE Modernisation

In January 2019 Revenue will begin to enforce a new Pay As You Earn system that will introduce real-time reporting of employee’s tax and other deductions directly to Revenue every time an employee is paid. This new system will be known as PAYE Modernisation.

Although the new system is expected to cause a lot of confusion, particularly for small and micro employers, PAYE Modernisation will seek to provide a much more accurate solution to the current PAYE system and ultimately benefit all employers and employees.

For over two decades, Thesaurus payroll software has supported businesses both large and small to pay hundreds of thousands of employees every month. At Thesaurus and BrightPay we are working directly with Revenue to make sure we’re ready for PAYE Modernisation. Our aim is to ensure the new PAYE process is a seamless and smooth process for our users.

Our development team have already experienced what it is like to implement real time processing and reporting in the UK. Our understanding and knowledge coupled with the reliability and maturity of Thesaurus payroll software will guarantee a user-friendly PAYE Modernisation experience.

We understand how stressful this change is going to be for payroll professionals and as a result, to help you get it right, Thesaurus have teamed up with a Revenue representative to bring you a series of webinars where you’ll gain the knowledge needed to comply with and master the new PAYE changes. Places are limited - secure your place today.


PAYE Modernisation: Key facts you must know to ensure 100% compliance.


Agenda:

  • An overview of PAYE Modernisation
  • Recent updates and changes to PAYE Modernisation
  • Can PAYE Modernisation be processed manually?
  • Elimination of the P forms - P30, P60 P35, P46 and P45 forms
  • Making corrections in real-time 
  • The role of payroll software
  • How PAYE Modernisation will affect small employers
  • The benefits of PAYE Modernisation for you
  • 10 step Checklist to PAYE Modernisation
  • How Thesaurus Payroll handles PAYE Modernisation


The Panel
Main presenter: Paul Byrne
Guest presenter: Sinead Sweeney
Guest presenter: Sandra Clarke

More information | Secure your place


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Posted byCailin ReillyinPAYEPAYE ModernisationPayrollPayroll Software


Sep 2018

24

The Death of PAYE ‘P Forms’

The introduction of PAYE Modernisation is just months away, leaving employers bewildered and confused about what the new PAYE system will entail. Essentially, all of the current ‘P Forms’ - P30s, P35s, P60s, P45s and P46s - will be abolished, and in their place will be real time periodic submissions to Revenue. Employers will be required to send these submissions, known as Payroll Submission Requests (PSRs), to Revenue each time an employee is paid. In most cases, this means a file will be submitted either weekly or monthly.

As Revenue will be receiving file submissions each pay period, the annual P35 will no longer be required. In addition, this periodic file will eliminate the need for P30s.

The files being submitted each pay run will also have details of employees commencing and employees leaving. This will mean that P45s and P46s are no longer required to be completed by the employer.

At the end of a tax year, the individual taxpayer will be able to view and print their official certificate of earnings and deductions directly from the MyAccount portal on the Revenue website. This means that P60s should no longer be needed.

PAYE Modernisation with Payroll Software

PAYE Modernisation should not add to an employers workload. In fact, employer responsibilities will be greatly reduced. Payroll software will be able to seamlessly integrate into the Revenue system, enabling employers to make the periodic submission directly from the payroll software at the click of a button.

Thesaurus Software is at the forefront when it comes to PAYE Modernisation compliant payroll software. With two different payroll packages to choose from - Thesaurus Payroll Manager and BrightPay - customers will be guaranteed leading edge software and expertise. We have already experienced the introduction of a similar real time reporting system with our UK payroll software.

Book a demo today to find out just how easy PAYE Modernisation can be when using the right payroll software package.


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Posted byRachel HynesinPAYE Modernisation


Sep 2018

18

Thesaurus Payroll Manager - Customer Survey Results

Opinions and feedback from our customers matter to us. We love to hear comments and suggestions from users in order to improve our customers’ experience. We recently conducted a customer survey to get an insight into what customers think about Thesaurus Payroll Manager and to find out what new features our customers want. We appreciate all the feedback received from this year’s survey and would like to say a massive thank you to everyone who took part.

The survey looked at customer satisfaction rates, software performance and customer support. We were delighted to discover that the customer satisfaction rate for our payroll software has remained at its exceptional 99%. The satisfaction rate for the customer support offered has also kept its 99% satisfaction rate.

One of the most common suggestions from this year’s survey was for the ability to reverse the payroll for individual employees rather than having to re-input the payroll for all employees. We are delighted to confirm that Thesaurus Payroll Manager 2019 will allow you to make corrections to previous pay periods for individual employees.

Thesaurus Connect

The survey also included some questions regarding our optional cloud add-on, Thesaurus Connect. With an overall satisfaction rate of 91%, customers rated Thesaurus Connect’s features highly, including the secure online backup (99%), payslip & P60 online accessibility (98%), HR document upload (98%), value/price (97%) and its ability to reduce payroll administration tasks (90%).

Watch this short video for an overview of how Thesaurus Connect can meet your payroll and HR needs.

PAYE Modernisation

This year’s survey also looked at PAYE Modernisation. With the introduction of this new system just three months away, we were surprised to find out that almost 7% of employers said that they were not aware of the upcoming changes.

When looking at the question ‘Do you feel prepared for the introduction of PAYE Modernisation?’, the results were also quite worrying. Just 2% of employers said that they felt extremely prepared, while a massive 32% said they felt not at all prepared.

 

It is important that all employers understand the new PAYE changes being implemented. We are running a series of free PAYE Modernisation training webinars with a guest speaker from Revenue. Make sure to book your place now.

Alternatively, you can book an online PAYE Modernisation demo with Thesaurus Payroll Manager to find out what the software will look like in 2019.

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Posted byRachel HynesinPAYE ModernisationPayroll Software


Sep 2018

3

The Existing PAYE System VS PAYE Modernisation: Which is really better?

The Irish PAYE system was first implemented back in 1960 with no major changes since its introduction. Ireland today is very different compared to what it was 58 years ago - so why should the PAYE system remain the same?

For the past few years, Revenue has been working on a much needed and well overdue facelift of the Irish PAYE system. The new system, known as PAYE Modernisation will replace existing PAYE processes from 1st January 2019. Many employers are left wondering what the difference is between the two systems, and more importantly, which system is really better?

Key Changes with PAYE Modernisation

With PAYE Modernisation, there will be no P30s every month or quarter and no P35s at the end of the tax year. In fact, all ‘P forms’ will be eliminated.

Instead, submissions will need to be sent to Revenue in real time, detailing employee pay and tax information. These will be known as Payroll Submission Requests (PSR), and will need to be submitted ‘on or before’ the date an employee is paid each pay period. In most cases, this means a file will be submitted either weekly or monthly.

Some employers are worried that this will massively add to an employer’s workload. Realistically however, the payroll process will require much less of an employers time. Payroll software will be integrated with Revenue so that for employers, the file will be automatically prepared and sent directly to Revenue at the click of a button.

The retrieval of tax credits will also be automated, which should ensure that the correct credits are being applied by employers. With payroll software, Revenue integration will enable employers to receive changes to an employees tax credits directly from Revenue and update it in the payroll software at the click of a button. This file will be known as a Revenue Payroll Notification (RPN).

Regardless of how frequently an employer will be required to send submissions to Revenue, the payment date will remain the same. There will be no change to the method that employers currently use to make the Revenue payment.

Find out what else the new system has to offer with Thesaurus Software’s free online PAYE Modernisation webinars.

PAYE Modernisation: Made Easier with Payroll Software

Although employers will still have the option to process their payroll manually, it will be very cumbersome and tedious, with the changes becoming more of a hindrance than beneficial.

Employers are advised to use PAYE Modernisation compliant payroll software so that the entire system will be smooth and integrated. With payroll software, employers will benefit from a reduced workload as a result of PAYE Modernisation, while making the payroll process much easier and streamlined.

Thesaurus Software is the number one payroll software provider in Ireland with two payroll packages to choose from - Thesaurus Payroll Manager and BrightPay.

Book a demo today to see how PAYE Modernisation will affect your business.

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Posted byRachel HynesinPAYE Modernisation


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

 

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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.


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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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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.

 

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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