On the 1st of January 2019 Revenue launched their new PAYE Modernisation system. Employers now have to calculate and report their employees’ pay and deduction in real time, on or before the payment is made.
Employers no longer have to issue statutory forms to employees directly (P45, P60), instead Revenue makes these available to employees through the MyAccount service.
Part of the MyAccount system allows taxpayers to see up-to-date information on their pay, income tax, universal social charge (USC), PRSI, local property tax if it is being paid through salary and their pension.
The introduction of this new system will hopefully mean less chances of people over paying their tax which is why Revenue are urging all employees to register for MyAccount.
We have put together a simple guide on MyAccount and how to register.
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