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

Date
Tuesday, 20 November, 2018
Time
11.00am
Location
Online - At your desk
Duration
1.5 hours

With just over one month to go employers and payroll processors will need to be prepared for the role out of PAYE Modernisation by the 1st of January 2019. PAYE Modernisation means that employers must now operate and process their payroll in ‘real time’. The real-time information must be submitted to Revenue each time an employee is paid. P30s, P35s and P45s will be abolished with employers submitting this information to Revenue electronically in the Employer Submission every pay cycle.

The new legislation will modernise and update the current Pay As You Earn (PAYE) system allowing for a more accurate reporting system of pay, tax and other deductions. PAYE Modernisation will also keep an up-to-date record of leavers as employers run their payroll.

Payroll software will alleviate the majority of the additional workload as software products will be capable of directly and electronically communicating with Revenue. Employers who use manual systems should allow for additional processing time and expect increased reporting obligations. Those smaller employers who tend to make just one yearly submission (using a P35 Form) to Revenue will be significantly affected. Under PAYE Modernisation, the yearly submission is no longer an option as all employers will have to make their Employer Submission each pay period to Revenue. While Revenue is yet to confirm how they will deal with non-compliance, it is expected that penalties will be issued to employers who fail to comply with PAYE Modernisation.

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

Thesaurus Software is working directly with Revenue to ensure a smooth transition this coming January. In conjunction with Revenue, we have created a series of free webinars for employers and payroll processors to get ready for PAYE Modernisation. The Thesaurus webinars will outline important steps for new and existing employers to complete in advance of the 1st of January deadline.

The webinar will give you an understanding of the PAYE Modernisation process, the benefits for employees and employers and how to get your payroll systems ready.

The webinar is CPD Accredited for accountants and payroll bureaus.

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
Audrey Mooney

Audrey Mooney

Support Manager, Thesaurus Software

Guest Speaker: Sinead Sweeney (Revenue)

PAYE Modernisation Change Manager, Revenue Commissioners.

 

 

 

 

Sinead Sweeney

Sinead Sweeney

PAYE Modernisation Change Manager, Revenue Commissioners.

Guest Speaker: Sandra Clarke (BCC Accountants)

FCA, AITI, Partner BCC Accountants and Council Member of the 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.

How it works:

  • Courses and webinars are delivered to your desktop or mobile device using GoToWebinar, meaning you don't have to travel anywhere.
  • You do NOT need to purchase any additional software to attend our courses.
  • You will need to have sound enabled on your device or have a phone nearby.
  • You will be able to see and hear us but we will not be able to see or hear you. None of the other attendees will be able to see or hear you.
  • You will be able to ask questions by typing them in the chat bar on the GoToWebinar control panel. Your questions will only be visible to us.
  • Relevant questions not answered in the time allocated will be followed up by email.
  • You will receive full instructions on how to view this course after you have registered.
  • You will receive reminders about the course.
  • Broadband speed of at least 1 megabits per second is recommended
Sandra Clarke

Sandra Clarke

Partner at BCC Accountants and a Council Member of the Irish Tax Institute