Enhanced Reporting Requirements: Everything you need to know
What are the changes and what is the Enhanced Reporting Requirements? From the 1st of January 2024, the introduction of Section 897C into The Finance Act 2022, known as the Enhanced Reporting Requirements, will require employers/payroll processors to provide real-time reporting on specific tax-free payments made to PAYE workers and directors. This is part of a phased introduction of additional reporting for employers/payroll processors in respect of the provision of other benefits or payments to employees/PAYE workers and directors that have not been subject to tax through the payroll system. What tax-free payments is it relating to? The first phase of the Enhanced Reporting Requirement focuses on the reporting of the following tax-free payments: Travel and subsistence payments. Small benefits fall under the Small Benefit Exemption. Remote working daily allowance of €3.20 Small Benefit Exemption Scheme: Since January 2022, directors and PA