PAYE Modernisation

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PAYE Modernisation (P60 Replacement)

PAYE Modernisation

Since the start of 2019, your income and statutory deductions are submitted to Revenue each time you are paid.

Under PAYE Modernisation, employers no longer provide a Form P60. Instead, from January 2020 you will be able to view, download or print an Employment Detail Summary for 2019 under ‘Review your tax 2016−2019’ in the ‘PAYE Services’ on myAccount.

This Summary will contain your income and deductions details for 2019, as reported to Revenue by your employer. The information can be used in the same manner as the Form P60, for example, as proof of your income to a third party. To access your 2019 Summary of Income you must register for Revenue’s myAccount.

Using myAccount

To register for myAccount,

  • go to www.revenue.ie
  • click on ‘Register for myAccount’
  • Click on ‘Start Registration’

You will need your;

  • Personal Public Service Number (PPSN)
  • date of birth
  • phone number (mobile or landline)
  • email address
  • home address

Why not read more on PAYE Modernisation here

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Revenue 2018 Annual Report

Revenue issued their 2018 Annual Report on 09th May confirming Revenue collected net Exchequer receipts of €54.6 billion last year.

Chairman, Niall Cody stated that;

‘when compared to 2017, net Exchequer receipts increased by €4 billion. There were increased receipts for almost all taxes and duties including Income Tax, up 6.6%, VAT up 7% and Corporation Tax up 26.7%.’

Mr Cody acknowledged taxpayers’ engagement, and that of tax practitioners and agents, in achieving the very strong compliance rates seen again for 2018. 9,000 businesses and individuals had phased payment arrangements in place by the end of 2018 covering €93 million in debt. For taxpayers that refuse to pay their tax or liase with Revenue, Niall Cody explained that;

‘we undertake a range of debt collection and enforcement actions to collect tax debt. In 2018, we collected €211.6 million as part of our debt collections and enforcement actions.’

Mr Cody also went on to say;

‘it is very important that we support compliant taxpayers by identifying risks and tackling non-compliance in all its forms. We continue to be alert to, and pro-actively respond to, the risks arising from the changes in economic and business environments both nationally and globally.’

The new arrangements for PAYE reporting with PAYE Modernisation came into force on 01st January 2019. Revenue received 1.4 million payroll submissions as of 31st March 2019 from almost 157,000 employers for more tan 2.6 million employees and pension recipients totalling almost €24 billion.

Mr Cody added;

‘with real-time reporting now in place for employers, we have turned our focus to the benefits of this new system for employees. From 15 May, all employees will be able to view their payroll details, as reported by their employer, through myAccount. Further improved services through myAccount will follow later in the year.’

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