Reduced Frequency of Tax Returns and Payments
Extension to newly eligible PAYE/PRSI customers
Revenue announced today that reductions in the frequency of PAYE/PRSI P30 returns and payments for smaller businesses are being extended to eligible businesses from 1 January 2013.
Businesses making total annual PAYE/PRSI payments of up to €28,800 are eligible to make their payments on a 3 monthly basis;
The benefits for qualifying businesses are two-fold:
- Improved cashflow by only having to make payments at the end of each 3, 4 or 6 monthly period, as appropriate.
- Reduced costs of administration through less frequent filing of tax returns.
Revenue will shortly write to each eligible business confirming that reduced frequency of tax returns and tax payments will apply from 1 January 2013.
A copy of the letter will also be sent to the agent or tax practitioner on record for eligible customers (other than PAYE/PRSI customers).
There is no need for businesses to take any action to benefit from these changes as Revenue will extend this facility for reduced filing and payment to eligible businesses without any action required by the businesses concerned.
As a client of Paycheck Plus you can be assured that your P30s will be prepared and filed in accordance with your requirements. For further details of our payroll outsource services email our PayrollTeam@paycheckplus.ie or call us on ++ 353 (0) 41 686 3000.