Reading an Irish payslip can seem complicated at first, but with some understanding of the various components, it becomes easier. The first part of the Irish payslip is a section which lists the employee’s details, including name, PPS number, tax status details and how you were paid, e.g., via bank transfer (or other means like a cheque). The second part of the payslip is usually split in three to show your earnings, deductions and overall balance & YTD (Year-To-Date) information. Here’s an explanation on all the sections: Personal Information: At the top of your payslip, you’ll ty ..read more

Auto-Enrolment is the term used to describe a government-backed scheme which requires employers to automatically enrol their employees into an occupational pension scheme. This plan is for employees who are not already in an occupational pension scheme, and will ensure that they have a retirement income when they reach the age of 65. The Irish Government has approved the details of a new pension auto-enrolment scheme which is expected to be introduced in 2024. This scheme will allow individuals to save for retirement without having to actively enrol in a pension plan. It will also ensur ..read more

Understanding Statutory Sick Pay (SSP) In Ireland, Statutory Sick Pay (SSP) is a legal right that entitles employees to be paid while they are on sick leave from work. This right was introduced in January 2023 and has been in place since then. It provides financial security to employees who are unable to work due to illness or injury. SSP is paid by employers and is subject to certain conditions such as the employee having worked at least 13 weeks with your employer before you can get statutory sick pay. The entitlement to paid sick leave is being phased in over 4 years: 2023 – 3 da ..read more

Expense tracking can be time-consuming, tedious and prone to errors. Fortunately, with the help of expense tracking tools, managing and recording expenses has become much easier. These tools allow users to upload images of receipts and enter details manually, making it easier than ever to accurately store all their expenses in one place. This makes it easier for users to keep track of their finances and make data-driven decisions about their spending habits. The Receipts Tracker at Revenue.ie is a great tool for keeping track of your expenses and receipts. It allows you to securely stor ..read more

There are many benefits to outsourcing payroll for a small to medium sized business (SMEs), including an easier payroll process, lower risk of errors, and most importantly, happy employees every pay day. The primary benefit of outsourcing payroll for a small to medium sized business is that it is considerably easier and requires less time than doing it in-house from start to finish. Another benefit of outsourcing your payroll is that there is significantly less risk involved in the employee’s work hours. By hiring a professional payroll provider and save on administrative costs; real an ..read more

Revenue have  released an important update (ebrief) details as per below….   Changes to personal tax credits and standard rate cut-off point Tax and Duty Manuals Parts 15-01-07 (Employee (PAYE) Tax Credit) and 15-01-44 (Earned Income Tax Credit) have been updated to reflect changes made by section 6 of the Finance Act 2021. Section 6 of the Finance Act 2021 increased a number of personal tax credits, along with the standard rate cut-off point, with effect from 1 January 2022 as follows: The value of the basic personal tax credit has increased ..read more

Returning to work… If you have been unemployed for a period of time and short term or long term You should tell Revenue about your new job using the their Jobs and Pensions service in myAccount. You will also need to tell Revenue about any payments you have received from the Department of Social Protection (DSP) during the year. It is wise to call Revenue to discuss your circumstances as they may have other questions to help work out your tax credits for you. Once a tax certificate is issued, you will be able to view it under PAYE Services available in myAcc ..read more

The EWSS (Employment Wage Subsidy Scheme) will replace the Temporary Wage subsidy Scheme All details are available on the Revenue website at the link below.  See when it starts, if your company qualifies and what are the rates available? We have added the start of the article below for you for convenience. Employment Wage Subsidy Scheme (EWSS) The Government announced the Employment Wage Subsidy Scheme (EWSS) on the 23 July 2020. This is an economy-wide enterprise support that focuses primarily on business eligibility. The scheme provides a flat-rate subsidy to qualifying employers based ..read more

Why register? With another tax year coming to an end, we recommend that you register for myAccount with Revenue if you haven’t done so already.  It provides you with all the information about your pay and taxes and since PAYE Modernisation came in 2019, it also provides you with end of year documentation you may need,e.g., Employment Detail Summary (EDS), which is the P60 replacement. Once you register you can:  manage your tax record for current year review previous tax years update employment / pension details  submit queries to Revenue directly  view important document ..read more

Revenue recently relaeased the following e-brief which highlights changes to the manual for the below items.  Use the link to read the updates. ////////////////////////////////////////////////// PAYE Services-Manage Your Tax Tax and Duty Manual Part 38-06-04 – PAYE Services: Manage Your Tax – has been updated as follows: Information has been added in section 2.3 on the facility for customers to claim certain credits in real-time System screen shots have been updated throughout the manual.   For regular tips, tricks and payroll updates, subscribe or follow ..read more