ACCOUNTING PAYROLL & BUSINESS SERVICES
ACCOUNTING · FINANCE · PAYROLL
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(051) 357790
Block 4B, 2nd Floor, Cleaboy Business Park, Waterford
(051) 357 790
PAYE Modernisation
Revenue is changing the way that PAYE\PRSI\USC\LPT liabilities are reported to them.
Currently the liabilities are reported on a Monthly or Quarterly basis using the form P30 and then at the end of the year a form P35 is submitted giving the total liability for the year.
From the 1st of January 2019 the PAYE\PRSI\USC\LPT liabilities must be reported to Revenue on or before a payment is made to an employee. This is for every employee and every payment and these return will now be deemed statutory returns after the 14th of the following month meaning that amendments after this date will be open to penalties and will increases the likely hood of Audit.
Main Changes
Revenue is changing the way that PAYE\PRSI\USC\LPT liabilities are reported to them.
Currently the liabilities are reported on a Monthly or Quarterly basis using the form P30 and then at the end of the year a form P35 is submitted giving the total liability for the year.
From the 1st of January 2019 the PAYE\PRSI\USC\LPT liabilities must be reported to Revenue on or before a payment is made to an employee. This is for every employee and every payment and these return will now be deemed statutory returns after the 14th of the following month meaning that amendments after this date will be open to penalties and will increases the likely hood of Audit.
Main Changes
| 2018 and before | 2019 onwards |
| P30 retuned Monthly or Quarterly with summary of PAYE\PRSI\USC\LPT liabilities for that period reported | Revenue Payroll Return uploaded each payroll run giving the Gross Pay, PAYE, PRSI, USC, LTP itemised for each employee |
| P2C certificates issued for Tax Credits and notification of changes during the year | RPN (Revenue Payroll Notification) download before each payroll run |
| P46 for new starters | Start date returned to Revenue as part of Payroll Return |
| P45 for leavers | Finish date returned to Revenue as part of Payroll Return |
| P60 issued at end of the year | Details of all payments received as submitted on the Payroll Return visible on myAccount |
| P21 balancing statement requested or triggered by additional of Health Expenses etc | Balancing statement done automatically for all employees at year end |
| P35 return filed by 14th of February of following year detailing liabilities for the year, this is the statutory return | No end of year statement and so no "End of Year Balancing", each Payroll Return will need to be amended if changes are required. |
All employees should register for myAccount on Revenue.ie as soon as possible as this will be the only way to see you employement record after 2019.