Further burden has been placed on the shoulders of employers who are now obliged to implement the latest changes to an already challenging task without any compensation or allowances from Government. Irish employers are responsible for the identification, calculation, deduction and remittance of PAYE, PRSI and USC on a range of additional benefits as it stands unlike their UK counterparts who review additional non-cash items only at year end and usually as part of the Accounting function.
However, Irish companies will have to add more tasks to their administration workload when employees opt to have their LPT deducted through payroll.
It is important that employers are aware of the changes that will affect the payroll calculations and can manage the process through their current systems and controls. Employers should receive notification of any amendments to be made to the Tax details of their employees by Revenue from this month onwards and they are advised to monitor the effects carefully.
By outsourcing the payroll function to a reputable payroll provider employers can rest assured that the various changes are implemented as part of their service. The team at Paycheck Plus process UK and Irish Payroll and will monitor the tax certificates for all employees to ensure that changes are captured and implemented as they occur. Utilising payroll outsource services enables employers focus on their business safe in the knowledge that their payroll is in the very best hands. Payroll Outsourcing is becoming more popular as companies realise the additional benefits obtainable through economies of scale and access to expertise as required. The flexibility payroll outsourcing provides enables employers adapt to changing business needs quickly and easily without the worry of payment calculations and Revenue submissions. It enables employers focus on their core profit making activities with the risk of penalties and fines for incorect of late submissions.
For further information about our outsource payroll services and how they can be tailored to suit your individual company needs, talk to Niamh at Paycheck Plus on +353 (0)1 640 1889 or contact us today for further information.