Icon Accounting - Accounting company in Ireland

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

At Icon Accounting , we are committed to providing the utmost support and a seamless experience to the Independent Professional industry and the community in place. Our iPerks system has no doubt helped us fulfill this promise; since its development in 2020, iPerks has become an invaluable addition to our service portfolio, empowering our clients to focus on themselves conveniently while operating as independent professionals.  In this review, we delve into the figures and highlights of iPerks we have seen in 2023, showcasing the substantial impact it has had on our clientele and hopefully encouraging our contractor community to continue making the most of the system again in 2024! iPerks: iPerks is an exclusive value-added proposition for all Icon Accounting clients, extending beyond the expected compliance, taxation, and exceptional service. This platform offers a comprehensive range of support, including over 4,000 professional courses, thousands of retailer discounts, and