Navigating New Reporting Obligations: Key Changes for Employers in January 2024
The world of accounting and employer responsibilities is evolving, and so are the regulations that govern it.
For businesses, both large and small, staying up-to-date with these changes is not just a matter of compliance, but also a strategic move to ensure smooth operations and avoid unnecessary pitfalls.
The Revenue Commissioners have recently introduced updates to the reporting obligations for employers, set to take effect in January 2024.
Whether you’re a seasoned business owner or just starting out on your entrepreneurial journey, understanding these changes is crucial to navigate the complexities of employer responsibilities effectively.
Finance Act 2022 introduced Section 897C which will require employers to report details of certain payments made to employees and directors.
Reporting the details of these payments will commence on 1 January 2024. Where you make one or more of the payments below, you must submit the details electronically to Revenue. This submission must be made by you on or before the payment date to the employee.ee revenue link.
You can learn more about these changes here: https://www.revenue.ie/en/employing-people/becoming-an-employer-and-ongoing-obligations/reporting-jan-2024/index.aspx
Do you need more information?
At Beresford McArdle, we provide you with a complimentary consultation. Feel free to reach out to our team with any questions you may have.
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