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The ongoing modernisation of the PAYE system will mean that the new SMART reporting will come into effect in January 2019.
Under the new system, employers will need to calculate and report their employees’ pay and deductions in real time – ie – as they are being paid. This will make it easier to deduct and pay at the right time the correct amounts of PAYE, PRSI, USC & LPT.
ARE YOU READY FOR SMART PAYE?
SMART PAYE is coming in January 2019 as part of the PAYE modernisation being undertaken by Revenue. The objective of PAYE modernisation is to deliver real time information. Revenue, employers and employees will have the most accurate, up to date information relating to pay and statutory payroll.
REBUILDING IRELAND HOME LOAN
The Rebuilding Ireland Home Loan is a new initiative from the government to help first-time buys who have been turned down by the banks. It’s available to everyone who earns an income of under €50,000 (whether in employment or self-employed). If you are applying jointly, the income ceiling is increased to €75,000. If you are self-employed, your income will be based on a combination of your drawings and profits.
TOP 12 ALLOWABLE EXPENSES FOR SMALL BUSINESSES
There are many possible business expenses and these are just the 12 most common. Before finalising your accounts each year, make sure you have included all the expenses you have had during the year to make sure you are not paying too much tax!
10 TAX SAVING TIPS FOR PEOPLE IN BUSINESS
Everyone expects to pay tax, however, are you sure you are not overpaying your income tax? Below are some of the most common (and easiest) ways to save tax on your business: Set up a pension fund (if you haven’t already) Not only is this good financial planning for your future, but it also gets […]
Revenue Code of Practice
Revenue are changing their code of practice in relation to the correction of errors on submitted tax returns. From 1st May 2017 onward, any errors (or omissions) made in income tax returns that relate to offshore matters cannot be declared or amended without Revenue involvement. Offshore matters are things like: Offshore bank accounts Income earned […]