Get ready for PAYE modernisation

Revenue’s new PAYE real-time reporting regime goes live on 1 January 2019, and the deadline for employers to submit the necessary details to comply is fast approaching. The new regime will bring sweeping changes to how employers gather and report information on payroll to Revenue. All employers irrespective of size need to be aware of how it works and are obliged to comply with and operate the new regime from 1 January 2019.

With this new system employers are required to provide detailed reports on pay and tax deductions to Revenue on or before every pay date.  In the past Revenue did not see payroll information until you reported it on the P35. Now Revenue will see details of employees’ pay and tax deductions in real-time. This means that the employer must at all times operate the payroll accurately when the employee is being paid to avoid mistakes and possible penalties.

To comply with this regime employers are required to submit their list of employees to the Revenue by the 31st of October, and are advised to keep all their records up to date before the launch on the 1st of January 2019.

Key Dates:

• 31st October – Deadline to submit your list of employees to Revenue
• 31st October-31st December – Ensure your list of employees is kept up to date and payroll process are ready to go-live on 1st January 2019
• 5th of every month – A summary statement of your payroll reports for the previous month will appear on ROS
• 14th of every month – Deadline to check and correct your reports for the prior month

Further information about the new regime is available on the Revenue website here or by calling the Revenue’s National Employer Helpdesk on 01-7383638.