Outsourcing your payroll is easier than you think, you supply the information, we’ll do the rest!
Late last year the Revenue ran a consultation on the changing and modernising of the PAYE system. As of January 1st, 2019 the The Revenue Commissioner has said that employers will report all pay and tax deductions as well as leaves of employment at the same time as they run their payroll. The change will also eliminate the filing of P30, P35 and P45 forms.
On Monday, the Revenue disclosed that it had received 77 submissions to the process, representing a broad range of interests, including the Irish Tax Institute, SAP UK, McDonald’s Restaurants, and Irish Life. There was a also considerable number of small businesses responding, including Design by Nature, Rhu Glenn Country Club and Tipperary Glass. However, a lot of small businesses still have concerns as to how time consuming the change will be.
More Time, More Effort Involved For Small Businesses
Smaller businesses are having concerns about the change:
“With all the attendant paperwork there is no chance of me doing this if all I’m employing someone for is one week during a year. Much easier to pay them cash.”
Many others welcomed the elimination of the need to complete P30 and P45s, with Dublin based Cofri Cosmetics saying modernisation “will make things easier”.
However some questioned the process. Carlow wildflower seed company Design by Nature argues that with its poor internet connection, and the seasonality of its business, taking time during the busy summer season to process files will hurt the business. “Our internet is rubbish, so to expect uploads every payroll is unfair,” says Sandro Cafolla, arguing that the new process “will severely impact on my business”.
Hillview Properties, a property management company, have also expressed huge concern: “Small companies like ourselves would have difficulties in compliance as we feel you will be overloading our work system.”
View The Full Article By Fiona Reddan Of the Irish Times here
Save time and money, outsource your payroll so you can focus on growing your business.
Source: Irish Times
Get in touch with our payroll experts at UHY FDW and find out how you can easily outsource your payroll. A conversation costs nothing, you supply the information and we’ll do the rest!