3 Key Controls In A Payroll System

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All businesses who employ staff must rely on a series of controls to ensure that their payroll is being accounted for correctly. Depending on the nature and size of the business these controls can range from very basic to very thorough.

Summarised below are some of the basic key controls that should be in place in a payroll system.

1. Separation of duties

Where it is practical, different stages of the payroll process should be carried out by different people. For example, the person who processes the payroll should not be Read more

Posted on April 3, 2017 by Michael O'Halloran

PRSI For Spouse Or Civil Partner Of Self-Employed Individual

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The Social Welfare and Pensions Act 2014 provides that PRSI class S now includes the spouse or civil partner of a self-employed person where he/she participates in the business, performing the same or ancillary tasks, but not as a partner or an employee.

This is subject to the annual income threshold of €5,000 that currently applies to self-employed contributors under PRSI Class S.

Previously a spouse or a civil partner of a self-employed person did not make any PRSI contributions and were not insured for any benefits.

What Questions Do You Have?

We are happy to help. Please post your comment below or call Mary Flanagan on 01 677 9000. Alternatively, send us an email: info@cooneycarey.ie

To keep in touch, connect with our friendly team on LinkedIn.

If this article helped you, please share it with other businesses.

Posted on November 26, 2015 by Mary Flanagan

Travel to Work Concession

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Provision of monthly or annual bus or train passes by an employer to an employee or director is not a taxable benefit in kind (BIK).

This exemption applies not only to transport services provided by State companies but also to transport services provided by licenced private transport operators to include travel on commuter ferry services which operate within the State in respect of journeys which begin and end in the State. In order for this exemption to apply the employer must incur the expense of the bus/train or ferry pass.

Alternatively Revenue allows employers to provide a bus/train or ferry pass to an employee and in return reduce the employee’s gross salary by an equivalent amount, known as a “salary sacrifice” arrangement. This usually results in a reduction of PAYE, PRSI and USC payable by the employee and a corresponding reduction in employer’s PRSI.

What Questions Do You Have?

We are happy to help. Please post your comment below or call Mary Flanagan or Louise Edwards on 01 677 9000. Alternatively, send us an email: info@cooneycarey.ie

To keep in touch, connect with our friendly team on LinkedIn.

If this article helped you, please share it with other businesses.

Posted on October 7, 2015 by Mary Flanagan

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