Did you know: 40% of firms are not prepared for the new PAYE Modernisation changes?
The new real time reporting regime will be operational for all employee payments being made from 1 January 2019. This new change will involve the most significant reform of the PAYE system since its introduction in 1960. Employers will need to calculate and report their employees’ pay and deductions as they are being paid. This will make it easier to deduct and pay at the right time the correct amounts of:
- Income Tax
- Pay Related Social Insurance
- Universal Social Charge
- Local Property Tax.
In short, PAYE modernisation will:
- improve the streamlining of current business processes
- reduce the administrative burden currently experienced by employers to meet their PAYE reporting obligations
Here at Big Red Cloud, we want to make sure our customers are informed and aware of anything that may affect their business. Having traveled around Ireland talking to business owners, we decided to create a webinar that breaks down these upcoming changes so that you are prepared come January 1st.