Modernisation is coming
PAYE Modernisation, a huge overhaul to the payroll and revenue reporting system, is coming next January and businesses should be prepared, writes Aoife Valentine
From January 1, 2019, PAYE Modernisation, the new system of real-time employee tax reporting, will come into play. At a breakfast organised by the Chartered Institute of Management Accountants, Niall Cody, chairman of the Revenue Commissioners, described this new system as the biggest shake-up in the State’s tax system since the introduction of self-assessment in the late 1980s.
PAYE Modernisation will eradicate the P30, P35, P45 and P60 tax forms from the system ...