PAYE Modernisation – Part 2
Getting Ready to Face 2019 Head On
Following on from last week’s focus on Revenue’s end of year notice, today we will focus on some of the other main points raised in the notice which may be of benefit to you and your business in the new year of change ahead. Here at EcovisDCA, we want to ensure that our clients and friends head in to 2019 with the right mind-set and have their most successful year.
As we have already discussed, Revenue are abolishing a number of their regular forms including the P30 and P35. Instead of these forms, Revenue will issue a monthly statement on your payroll submissions. This statement will include a summary of total liability as well as a breakdown of liability.
It is important to note that the monthly statement will be accepted as your return if no amendments are made by the return due date which will be the 14th of the following month.
Beginning January 1st 2019, commencing and ceasing employees will become part of the normal payroll process. We discussed RPNs in last week’s post, and these must be requested for any new employees before payment is issued to them. This action creates the employment in Revenue records and is the only action you need take on this.
USC (Universal Social Charge) and Emergency Tax:
It was announced in Budget 2019 that there will be changes to USC and Emergency Tax, the information on the Revenue online system has been updated with these details.For employees who are exempt from USC, their exemption will be noted on their RPN. If circumstances change, the employee may need to contact Revenue to have a new RPN created.
Revenue are constantly updating their guide to PAYE Modernisation for 2019 on their website so be sure to stay informed. Should you have any concerns, queries or require further information on these or any other business and financial matters please don’t hesitate to contact us we are always available to help.
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~ DCA PARTNERS, DECLAN DOLAN & EAMONN GARVEY