PAYE, USC, PRSI and LPT Calculation Breakdown
A good proportion of the support calls we receive from payroll staff on PayDay are queries about the calculation of PAYE, USC, PRSI and LPT because employees are asking them for explanations.
In light of this, Ardbrook decided to introduce a nice neat feature to make life easier for payroll staff and, by extension their employees by providing a comprehensive breakdown of how these statutory deductions are calculated.
This breakdown is available to payroll staff by clicking on the button on the calculation screen and, if required, a plain paper printout can be produced to give to the employee. […]
Irish SEPA Business Scheme ending on Feb 1st 2016 – Are you ready?
The interim SEPA Business Scheme ends on Feb 1st 2016 and is not to be extended by the Irish Banks.
It is far from clear if the main Irish Banks will make the SEPA B2B scheme available from this date – or if they will all be technically able to do it.
You may have to submit amendments on your payment transactions if you are switching from the SEPA Business Scheme to the CORE scheme. DEFT will handle all the amendments required.
Contact us if you need help switching from the SEPA Business Scheme.
Local Property Tax Payroll Changes
We will be releasing an update to the EuroPayX and Payday payroll software in the next few weeks which will allow employers to comply with the changes for the collection of local property tax via the payroll.
NoSQL
As many of you will no doubt know, the NoSQL technology has been steadily gaining ground as organisations move to super fast and highly flexible technologies for their web solutions. These organisations include some huge names such as Google, Facebook, Amazon, eBay and many more.
So why do I mention this on a blog about Ardbrook Software?
Well, NoSQL is now being referred to as ‘No’ SQL and also ‘Not Only’ SQL and the MultiValue Database system we use in EuroPayX payroll, fits very nicely into the second camp. Not only do we have a flexible, scalable and fast multi-dimensional […]
SEPA is Coming!
/* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Berlin Sans FB","sans-serif"; mso-ascii-font-family:"Berlin Sans FB"; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:"Berlin Sans FB"; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-GB; mso-fareast-language:EN-US;}
Effective from February 1st 2014, the existing Irish EFT scheme (Standard 18) for handling Credit Payments and Direct Debits will be replaced by a new European wide scheme known as SEPA.
Some key differences […]
DEFT our new SEPA Software
/* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Berlin Sans FB","sans-serif"; mso-ascii-font-family:"Berlin Sans FB"; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:"Berlin Sans FB"; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-GB; mso-fareast-language:EN-US;}
Ardbrook will soon be launching its new product to handle the requirements and controls imposed by the new SEPA standard for transacting both Credit Transfers (SCT) and Direct Debits (SDD). Our new EFT product for handling transactions […]
Budget 2013 – Advance Notice of PRSI Changes
The Advance Notice of PRSI Changes for Computer Users 2013 is now available on welfare.ie at
http://www.welfare.ie/EN/Publications/Advanced2013/Documents/anprsi2013.pdf
Budget 2013 – BIK on preferential loans
Increase from 12.5% to 13.5% in the specified interest rate used in calculating the taxable benefit from preferential loans, other than home loans. The specified rate used to calculate the taxable benefit from home loans is decreased from 5.0% to 4.0%. Specified interest rates are reviewed annually in the light of current interest rates available in the market.
Budget 2013 – PRSI and USC Changes
The abolition of the standard PRSI allowance means most workers will pay an extra €264 a year. The minimum contribution from the self-employed will rise from €253 to €500.
The reduced rate of USC for those over 70 with an income in excess of €60,000 will be discontinued at the end of the year.
Budget 2013 Main Points
The main points of the budget as announced today by Finance Minister Michael Noonan are:
The abolition of the €127 a year PRSI allowance.
Child benefit cut by €10 per month
Capital Acquisitions Tax threshold falls by 10 per cent.
Carbon tax extended to solid fuels
Corporation tax remains unchanged
DIRT increases by 3% to 33%
Motor tax to rise from January 1st
Excise duty on tobacco to increase
€1 duty increase on wine
10 cent rise on spirits, beer and cider
No increase on petrol/diesel
Property tax will be collected by the Revenue
Property tax based on market value introduced
Increase in USC for over 70s with incomes of €60,000+
Homes bought in […]