The recent 2023 budget highlights that there will be increased Revenue scrutiny and reporting required by employers in relation to payments/ benefits made to staff.
The new measure, which is subject to a Ministerial Commencement Order, provides for the automatic reporting to Revenue by employers in respect of three payments made without the deduction of tax:
- Travel and subsistence expenses
- The small benefit exemption (commonly known as staff Christmas voucher scheme).
- Remote working daily allowance of €3.20.
All businesses should ensure that their relevant paperwork can withstand Revenue examination to avoid unnecessary interest and penalties.