PAYE Modernisation by Revenue
As of 1 January 2019, all Payroll information will have to be filed with Revenue when it is being paid to Employees (in ‘real time’). Therefore, all Employees must be registered immediately on commencement so that the correct tax credits and cut-offs are applied.
The new procedure will be:
- Run the payroll
- Update it to Revenue
- Pay the wages
It will be possible to make amendments afterwards, however, this will draw attention from Revenue and if it happens frequently could result in an audit.
Note: If Employers do not operate the new payroll procedures there will be penalties, including an audit by Revenue.
Employer options are:
- Prepare payroll manually, update Revenue and pay your Employees.
- Purchase and run payroll through a special payroll software, we recommend Brightpay. Upload file to Revenue as often as you pay your Employees.
- Outsource your payroll to us at PA Solutions.
To prepare for the 1 January 2019 commencement date some work needs to be carried out. For example, ensuring you have all your Employee details correct and up to date. Also ensure that any outstanding P45s are issued. This will mean that when the Employees Register is being completed on Revenue you are sure that all the information is accurate on the outset. This will minimise any changes / amendments that need to be made.
If you decide to outsource your payroll to PA Solutions we will:
Before 31 December 2018
- Initial consultation to gather Employee information
- Complete the Employee Register
From 1 January 2019
- Complete payroll weekly / monthly depending on your current pay terms
- Update Revenue with payroll
- Pay Employees
- Update Revenue with new Employees and departed Employees immediately
- Provide monthly or quarterly reports to you
- Deliver payslips to Employees as they are processed
If you have any questions, would like to get a quotation or book an initial consultation please contact us.
The Irish Trainer – August 2018
Michael Grassick, IRTA, in conversation with Aoife Hanratty, PA Solutions
PA Solutions will be at the ITBA Expo’ 2018 on Friday 26th and Saturday 27th January 2018. More details are at ITBA
Come by and find out how PA Solutions can help you and your business. We’ll also have our Employee Hours Recording Book for sale.
Plus 10 Bonus
Plus 10 is an industry-funded bonus scheme for British and Irish Flat thoroughbred owners and breeders. Qualified two and three-year-old horses can win a £10,000 (€12,500) bonus on top of race prize money. (source: Plus 10 Bonus website)
Yearlings can be registered by June 30th online at www.plus10bonus.com even if you haven’t already registered them as foals (however, you will have to pay foal registration fee in addition to yearling fee)
2017 foals can be registered by August 31st for the bonus scheme.
All details and forms can be found on their website.
PA Solutions feature in The Irish Field
On May 13th The Irish Field published an article written by Aoife Hanratty of PA Solutions on behalf of The Irish Thoroughbred Breeders Association. You can read the full article below:
Weatherbys Launch Online Digital Registrations for General Stud Book
Find out more at www.weatherbysgsb.ie
Currabeg Stables, the training base for John M. Oxx is renowned for its success with numerous greats such as Sea The Stars, Sinndar, Alamshar, Azamour, Ridgewood Pearl, Namid, Winona and Eurobird.
Moving with the times John & Caitriona decided it was time to make an online presence with a website www.johnoxx.com
John M. Oxx makes lots of appearances on the Social Media circuit through #johnoxx #currabeg. So, although he is no stranger to those in the Horse Racing industry, it is easy to get lost within the sea of related posts on the web.
The John Oxx website is used as a tool to showcase the ideal training facilities at Currabeg and to display their numerous successes.
The continued rapid growth in technology is increasing the demand for every trade to have an online presence. Using a website or social media to broadcast your services can allow you to target your market in a fast and efficient method.
If you are considering a new website or if you would like to make changes to an existing site, please get in touch.
If you are a fully licenced racehorse trainer in Ireland you can qualify for the Horse Racing Ireland Trainer Marketing Scheme, a fantastic grant to help with the costs.