Following the commencement of the enhanced reporting requirements for employers (ERR), Revenue has updated the Tax and Duty Manual in respect of the Income Tax (Employments) Regulations 2018. The updated manual reflects the changes made as a result of the Income Tax (Employments) Regulations 2024 S.I No.1 of 2024, effective from 4 January 2024. This Institute, under the auspices of CCAB-I will continue to engage with Revenue on ERR and will keep members updated on operational developments.
The regulations have been amended to include definitions specific to ERR. Further amendments address the requirements:
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to use an employment identifier for each employee where the employee’s PPSN is available;
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to notify Revenue of the relevant particulars of the payment/benefit on or before the provision of any reportable benefit to an employee;
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to retain all documents and records relating to the provision of a reportable benefit to an employee for a period of six years after the end of the year to which they refer.