//DO NOT PAY EMPLOYEES OR YOURSELF BEFORE TELLING ME.

DO NOT PAY EMPLOYEES OR YOURSELF BEFORE TELLING ME.

Revenue have a completely new procedure coming out from January 1st.  They call it PAYE modernisation.

  • You must tell them in advance
    • Who your employees are
    • What you paid them
    • and on what date you paid them
      • BEFORE you actually make the payment

The idea is that there is no forgetting to add employees onto payroll, and secondly no going make fixing things up.  The right amount of tax to be handed over too.  If you are able to do this yourself, that is fine, if not some aspects I recommend you start considering:

  1. Pay your Employees Monthly, not weekly  (12 paydays are easier than 53)
  2. Pay them the same amount each time (hopefully this is practical)
  3. Know the real cost of an employee, so that you allow enough in your bank account to meet the tax bill.
  4. Download my App as it has a wages calculator on it.

It’s more administration for businesses. There have been a few free seminars around Ireland on this, but not many people have gone to it.

We do this service currently for people so this is what you need to do:

Self Employed Directors

  • Pay yourself once per month only.
  • Let it be the same amount per month
  • Tell Me 4 Days in advance
  • No dribs and drabs

Employees

  • Pay them a week in hand
  • This gives you time to find their tax credits out
  • Pay them monthly
  • Tell Me 4 Days in advance

 

If you would like me to handle your Payroll administration, from a cost point of view we charge by the payslip and per employee, to include all related documents:

FEE GUIDE

  • €5 for weekly payroll
  • €8 for bi weekly
  • €15 for monthly payroll

 

Any queries, just Contact me Here

By |2018-12-03T09:52:40+00:00December 3rd, 2018|Uncategorised|0 Comments

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