Getting to grips with PAYE real-time reporting

Sweeping changes to the PAYE system are on the way next year. With just weeks left to prepare, employers must take action now, says Declan McEvoy.

PAYE real-time reporting will come into opera- tion on 1 January 2019. Revenue has been flagging the change for some time and warning that all employers will be affected. What is changing?

Under the new system, a Revenue Payroll No- tification (RPN) will replace the current P2C tax credit certificate. Employers will have to provide details of each employee’s pay and tax deductions to Revenue on or before every pay date. At the end of each month, Revenue will provide a statement summarising the information provided. Employers will be able to view this statement on ROS from the fifth day of the month and will have until the fourteenth day of the month to check and correct reports for the previous month.