Major changes are being made to the administration of PAYE from January 1 2019, Revenue has announced.

It is called PAYE Modernisation and according to Revenue it is the most significant reform of the PAYE system since its introduction in 1960.

As a result, employers will need to calculate and report their employees’ pay and deductions as they are being paid. Failure to do so will result in significant fines.

Revenue is advising employers to review their business processes and practices to meet the new requirements.

It claims that PAYE Modernisation will streamline the current business process and reduce the administrative burden currently experienced by employers to meet their PAYE reporting obligations.

For more information about the changes required and for details of seminars the Revenue is holding to assist employers to prepare visit:
https://www.revenue.ie/en/employing-people/paye-modernisation/what-is-paye-modernisation/index.aspx

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