Payroll 2018

The following is a brief introduction to payroll including how to register the business and employees, how best to operate a payroll system and details of what Revenue returns are required. Registering as an Employee The first step in registering employees is to register the business as an employer. This is usually done when first registering for tax by submitting either Form TR1 (sole-traders and partnerships) or Form TR2 (companies) to the local tax district. Tax registrations are now mostly completed online using the Revenue Online Service – ROS at www.revenue.ie. Registering as an Employee The onus on […]

Minimum Wage 2018

The following Low Pay Commission recommendations were implemented from January 1 2018: Experienced adult worker   €9.55per hour Over 19 and less than 2 years since first job   €8.60per hour. Over 18 and less than 1 year since began first job   €7.64per hour. Aged under 18   €6.69per hour An experienced adult worker, for the purposes of the National Minimum Wage Act, is an employee who has an employment of any kind in any 2 years over the age of 18. Of course the national minimum wage does not stop an employer from offering a higher wage. How to calculate […]

EMPLOYEES ANNUAL TAX FREE €500 BONUS

Employers can reward employees under the Small Benefits Exemption Scheme with a non-cash bonus of up to €500 completely tax free this year 2017. If guidelines are followed neither the company nor the employee will pay PAYE, PRSI or USC with a potential saving of over €650. To qualify for the tax exemption, only one tax-free bonus may be paid to each employee in any one year. If more than one bonus is given in a year, it is only the first one that will qualify for tax-free status, even if this bonus is less than […]

Subsistence Rates 2015

Subsistence Rates 2015

Overnight Allowance Day Allowance Normal Rate Reduced Rate Detention Rate 10 hours or more 5 hours but less than 10 hours €125.00 €112.50 €62.50 €33.61 €14.01   Previously allowances were divided into class A and Class B, this has now been discontinued with effect from 1 July 2015. An overnight allowance covers a period of up to 24 hours from the time of departure, as well as any further period not exceeding 5 hours, which is necessarily spent overnight at least 100km away from the employee’s home and normal place of work. A day allowance applies […]

Careers – Tax Senior Wanted!

Due to continued expansion we have some exciting opportunities available in our tax department. Tax Senior The role We’re looking for a qualified tax professional with experience in all areas of tax. The role is full-time and will include managing tax compliance, undertaking tax planning exercises and other ad-hoc tax work. Who we are We’re a highly regarded 2-partner professional accountancy and tax firm based in Cork city. We have a diverse client base and provide services to SMEs across all ranges of business sectors. We take great pride in delivering a pro-active, value added service […]

Careers – Tax Trainee Wanted!

Due to continued expansion we have some exciting opportunities available in our tax department. Tax Trainee The role We’re looking for a ‘starting-out-in-tax’ trainee or a part-qualified tax professional with some experience in tax. The role is full-time and will include dealing with various aspects of tax compliance work. Who we are We’re a highly regarded 2-partner professional accountancy and tax firm based in Cork city. We have a diverse client base and provide services to SMEs across all ranges of business sectors. We take great pride in delivering a pro-active, value added service to our […]

Save Tax – Benefit In Kind Exemption For Travel Passes

For some years an exemption has been available where an employer can purchase a bus, rail or ferry pass for an employee under an approved salary sacrifice arrangement. The exemption means that no tax is payable on the benefit-in-kind. Recently Revenue issued a clarification to show that an employee can enter into one of these salary sacrifice arrangements, with their employer’s agreement, more than once a year and the exemption will still apply. Remunerating staff in a tax-effective manner can make a difference in attracting and retaining good quality employees. So, where you have staff commuting […]

Mileage and Subsistence Changes 2015?

The European Court of Justice (ECJ) ruled in Sept 2105 that workers (e.g. sales executives) who do not have a fixed office are entitled to count time spent travelling from home to the first meeting of the day and the journey from their last meeting to home in the evening as work time. Accordingly this time must be included in working hours, rest breaks and pay when they are being calculated. The ECJ decision may result in the Revenue Commissioners changing the current application of the rules governing expenses. They are clamping down severely on payment […]

Revenue focus on employee share option schemes

Revenue is pursuing millions of euro in unpaid tax from workers in some of the biggest companies based in Ireland. The Revenue is focusing on employees who cashed in company shares but failed to pay tax owed on profits made from share options. Revenue is calling this a “compliance programme” for people who exercised a share option within their company in recent years. People who sell shares at a profit are due to pay capital gains tax, which is imposed at a rate of 33pc. Some employees/directors may have mistakenly thought they did not have to […]

Have You Checked Your Firm’s Sick Pay Policy Recently?

Employees will now have to be out of work sick for six days (previously three days) before they can claim illness benefit. Even though there is no legal obligation for employers to pay sick leave, existing sick pay policies should be checked carefully to see if the employer is eligible to carry the additional cost following this change. PDF

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