Truway News

Employers must deduct Income Tax, Pay Related Social Insurance (PRSI), Universal Social Charge (USC), and Local Property Tax (LPT) from an employee's gross pay under the existing PAYE tax system in Ireland. Each employer must supply a list of all their employees via ROS prior to the start of the new system, as well as guarantee that every employee is on the current P2C list.

Employers must record payroll details every time an employee is paid to start January 1, 2019. These details must be reported on or before the due date. You must complete payroll submissions if you made payments to your employees during the month. You must submit a payroll entry each week if you pay your employees weekly.

It is really important that you manage your payrolls mindfully from the beginning. Employees expect to be paid on time and for the correct amount without paying inapplicable taxes. Furthermore, if you have additional payments to account for, such as bonuses and holiday pay, your payroll chores get more complicated.