Are you ready for PAYE Modernisation?

摘要

PAYE Modernisation - Are You Ready? highlights the vital steps for new and existing employers to undertake in advance of January 1, 2019, in orderto succeed in the imminent taxation system revolution. The key idea behind PAYE Modernisation is that allcommunication between employer and Revenue will happen in real time. This means that Revenue can ensure that the correct tax deduction is being made at the right time for every employee. A similar concept has already successfully been rolled out in theUK, called Real Time Information. Ultimately, employers will need to submit payroll information to Revenue every pay period. This will always ensure that Revenue has accurate information for employees.