Payroll 2016

Q: I have to pay my staff next week, what do I need to do to start a new payroll for 2016?    

15th January 2016

A: You will need to ensure you have up to date tax credit certificates from Revenue for all staff. The updated tax credits will be available from Revenue online or over the phone.

 

Budget 2016 announced changes to the Universal Social Charge rates. Most payroll packages will have these updates automatically, however you will still need to double check to Revenue records.

 

The USC changes will mean more money in employees pockets and less payroll taxes to be paid over to Revenue by employers.

 

Your accountant can also assist by downloading the relevant information from Revenue Online Service (ROS).

Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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Call us today to make an appointment at your local office

1890 98 76 09

Or submit an enquiry