As we step into the unknown of 2024, the landscape of business compliance is ever-evolving. As your trusted advisors, we want all of our clients to be well-prepared for the journey ahead. Revenue have recently introduced Enhanced Reporting Requirements (ERR) that demand a closer look for employers. Let’s take a look at the key changes and how we can navigate these changes together for your continued success.
Starting in 2024, employers dealing with expenses and benefits for their employees and/or directors must adhere to the ERR. These crucial aspects include:
- Travel and Subsistence.
- Small Benefit Exemption.
- Remote Working Daily Allowance.
To simplify the reporting process, Revenue is providing tools to report ERR through third-party software. We strongly recommend engaging with your software providers to ensure a smooth collaboration with Revenue. Technical information for software providers is readily available on the Revenue GitHub page, offering valuable insights for streamlined compliance.
To empower employers with the knowledge needed to navigate ERR effectively, Revenue is hosting free online events throughout December. These events facilitated through Eventbrite, provide an insightful overview of ERR for expenses and benefits related to employees and directors.
The agenda for these events includes:
- Requesting Employer Reporting Notifications (ERN).
- Submitting expense/benefit details via file upload or online form.
- Viewing expenses/benefits by submission type.
- Exploring an employee’s view in myAccount of submissions made by their employer.
If you are eager to attend these webinars, follow these simple steps:
- Visit www.revenue.ie/err
- Click the link to Revenue’s ‘Eventbrite Webpage’.
- Follow the on-screen instructions to secure your ticket.
- Eventbrite will keep you in the loop with reminders of the event.
For continuous updates and a comprehensive understanding of ERR, bookmark www.revenue.ie/err. This website will serve as your go-to hub for the latest information and will be updated on a regular basis to help keep you informed as these changes evolve.
As your trusted partner and advisors, we here at EcovisDCA are here to guide you through these changes seamlessly. Should you have any queries or need further assistance, don’t hesitate to reach out to us. Together, let’s make 2024 a year of compliance, growth, and shared success.