fixmytax.com
Home
Help!
Business Tax
Personal Tax
Investments
FAQ
Resources
About Us
FAQ
FAQ - Appoint an Accountant
FAQ - Online Book-keeping
FAQ - Benefit in Kind
FAQ - Buying Property
FAQ - Capital Acquisitions; Inheritances and Gifts
FAQ - Capital Gains
FAQ - Companies
FAQ - Employees
FAQ - Emergency Tax
FAQ - Freedom of Information
FAQ - Imports and Exports (Customs and Excise)
FAQ - Mortgage Interest
FAQ - PAYE/PRSI
FAQ - P35
FAQ - Paying your tax
FAQ - Revenue Audit
FAQ - Redundancy
FAQ - Start a Business
FAQ - Starting Work
FAQ - SSIA maturity
FAQ - Taxing Business
FAQ - Travellers
FAQ - Value Added Tax
FAQ - Vehicle Registration Tax

Search Site:    
  

FAQ - PAYE/PRSI

Employer’s PAYE/PRSI , what should I do?

Must I register as an employer for PAYE/PRSI if I employ staff?

YES. You must register for PAYE/PRSI if you pay:

€8.00 per week (€36.00 a month) or more, to an employee who has only one employment

  • €2.00 per week (€9.00 a month) or more, to an employee who has more than one employment.

A company must register as an employer and operate PAYE/PRSI on the pay of directors even if there are no other employees.

Back to the top

How do I register for PAYE/PRSI?

To register for PAYE/PRSI you must fill in one of the following forms:

When you fill in the form, forward it to FIXMYTAX.com for review and we will return it to the registration section of your local Revenue office. You will receive confirmation of your registration as an employer, a registered number for PAYE purposes and detailed information regarding the operation of PAYE/PRSI.

These forms can also be used to register for Value Added Tax, Relevant Contracts Tax, Income Tax and Corporation Tax.

Back to the top

The new simplified PAYE/PRSI filing arrangements

On a phased basis from 1 April 2006, employers whose total PAYE and PRSI payments for the year are €30,000 or less will be able to return their PAYE and PRSI payments on a quarterly, rather than monthly basis.

Under this new arrangement, the first quarterly return will be due on 14 July this year.

There is no need for employers to take any action in relation to this change. The employers, who are eligible to avail of the new arrangement, will be advised of their new filing arrangements.

The Revenue will also issue a PAYE/PRSI return (form P30) relevant to the new filing arrangement to each eligible employer specifying the due date for the filing and payment.

The new timetable?

The future schedule for submission of PAYE/PRSI returns for eligible employers will be as follows:

Tax Period

Frequency

File and Pay

February 2006

Monthly as usual

Monthly P30 return and payment by 14th March 2006.

March 2006

Monthly as usual

Monthly P30 return and payment by 14th April 2006. (this will be your last monthly payment)

April - June 2006

Quarterly

Quarterly P30 return and payment by 14th July 2006.

July - September 2006

Quarterly

Quarterly P30 return and payment by 14th October 2006.

October - December 2006

Quarterly

A separate Quarterly P30 return is not required for the last quarter of year. payment for the last quarter to be included with P35 by 15th February 2007.

Filing and payment will continue on a quarterly basis thereafter.

The Form P35 must be returned before 15 February to avoid penalties.

This is the form on which the employer declares the overall amount of PAYE/PRSI deducted from his/her employees during the tax year




Fixmytax Shop
Fixmytax News


Newsletter Signup:


Cooling the property market?
Should the governement seek to stop property rising by raising stamp duty?
yes
No
don't know



Testimonials

"I run my own business and after years of struggling with a demanding home life and a hectic work schedule I reached a situation whereby I was functioning poorly with both. I’d missed a couple of VAT payments and had intended to catch up at the end of the year. I missed my own deadlines and tried again to catch-up in the following year. Business became a stressful job of ‘fire-fighting’ each day’s demands, eventually pushing the issue of outstanding taxes out of my mind as much as possible, in order to concentrate on work.

That said, you always know in the back of your mind that these things don’t just go away and that it was just a matter of time before ‘they’ catch up with you. 

After a few years of letting my compliance payments slide altogether, the Revenue made contact with me and gave me an estimate of all PAYE, VAT and tax owed over the years – which ran to over 6 figures- and they wanted the money immediately. I knew I was in big trouble and looked in the Golden pages for an accountant who could help me. The name www.fixmytax.com jumped out of the page and I made contact. I was immediately reassured that they could help me. I was asked for “every bit of paper” concerning the office and all old Revenue correspondence.

The first thing fixmytax.com was to do was make contact with the Revenue on my behalf and assure them that they were handling the situation and that the liabilities were being established, even though it would take time. That took the immediate ‘knock-at-the-door’ shock and worry out of the situation. The coming weeks were spent only dealing with fixmytax, (not the Revenue) answering the odd question by phone and filling in more information for the accountant. Even though this was routine information, I was quite reassured by the fact that they were working on the whole Revenue mess and actually sorting through it for me. This took the panic and stress out of the situation and enabled me to concentrate on work. After a few weeks, accounts and figures had been prepared, which I went over with the accountant.

The accountant had dealt with the Revenue directly on my behalf and he saved over 60% off the original tax bill.

Throughout the process, the fixmytax accountant was hugely supportive to me, dealt directly with the Revenue, reduced the original tax bill considerably and most importantly, had taken the fear out of the situation and given me peace of mind knowing that good progress was being made with the Revenue, rather than hiding from it all.

The cost? Approximately 7% of the money SAVED on the original tax bill!

My Revenue mess caused me huge amounts of anxiety all the time I did nothing to resolve it. In dealing with fixmytax, they took control of the situation and proceeded to do what had to be done. I would not hesitate to recommend them to anyone worried about any aspect of taxation and financial planning for a business.

I now have a good relationship with the Revenue, fixmytax looks after not only the basics of compliance, but also the financial planning and regularly reviews the performance of the business. My business is now stronger and more focussed that ever before simply because of the level of ongoing collaboration and support that I have with fixmytax. They are the proverbial “good accountant” that every business needs.

My most valuable lesson in dealing with fixmytax is that it is far more productive and far less stressful to get a good supportive accountant to do what they do best, leaving me free to do business. Thanks, Patrick!

Satisfied Client, name and address with firm. 

more testimonials »