The introduction of PAYE Modernisation will affect all employers from 1st January 2019. Employers will no longer be able to submit their payroll information to Revenue on a yearly basis. Instead, employers will need to calculate and report their employees’ pay and deductions each pay period.
A significant number of small employers are still processing their payroll using a manual or spreadsheet system. To date, this has been an adequate way to send your payroll information through to Revenue. However, with PAYE Modernisation, manually completing your payroll will be time consuming and open to human error.
It is an employers responsibility to ensure that the payroll information they submit to Revenue is 100% accurate each and every pay period. Failing to submit the correct information would result in non-compliance where employers could face fines or penalties from Revenue.
Many business owners believe that a manual payroll system is a relatively easy way to manage their payroll and can seem like the most cost-effective option. However, a manual system does not have built-in processes to catch mistakes or notify you of payroll changes. Additionally, manual records are very difficult to maintain, store securely under GDPR and are subject to greater human error.
In this webinar, we will peel back the PAYE Modernisation legislation to outline clearly how PAYE Modernisation will affect the payroll processing and what is expected from you going forward.
We will also look at the advantages and disadvantages of manually processing your payroll for PAYE Modernisation.
We are delighted to be joined by our guest speaker Sinead Sweeney who is the PAYE Modernisation Change Manager at Revenue, who will also help you come to terms with the new PAYE legislation.
The webinar takes place online and is free to attend.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: