On the 1st of January 2019 Revenue launched their new PAYE Modernisation system. Employers now must 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 fewer chances of people overpaying their tax which is why Revenue is urging all employees to register for My Account.
We have put together a simple guide on My Account and how to register.
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