Level 1: Practical Payroll
Application and Processing of PAYE/PRSI & the USC for the Tax Year
1. Sourcing of Material (How to find answers)
- Listing of relevant Payroll related website and support lines
- Details of the relevant Government entities
2. Payroll Terminology (Speak English please!)
- Know what terms are used and how they are understood by the various government entities and payroll partners (employee & employer)
3. Employer Payroll Requirements (What needs to be done)
- Summary overview of the employer responsibilities and requirements and the listings of the relevant forms and their return/processing dates
- Suggested listings of records to be kept for Revenue Audits
4. Payments (When to charge Tax/PRSI and/or USC?)
- Taxable Income
- PRSI’able (employer & employee) Income
- USC’able Income
- Non-Taxable Income
- Round Sum Payments
5. Deductions Gross & Net (Deducted before or after Tax/PRSI and/or USC?)
- Pensions
- Personal Retirement Savings Accounts (PRSA’S)
- Additional Voluntary Contributions (AVC’s)
- Net Deductions
6. USC – Universal Social Charge (What you need to know!)
- What is the USC and how will it operate? (Cumulative/Week 1/Emergency /Exempt)
- What payments are liable? (Employer PRSAs & PHIs)
- What new and existing forms are required?
- Changes to the employee payslip & employee record
- USC Rates & Refunds
7. PAYE – Pay As You Earn (Tax Explained)
- Tax Credits, Allowances & Standard Rate Cut Off Points
- Week 1/Month 1/Normal Cumulative/Emergency Tax Status
- Employee and Employer Responsibilities
- PAYE Tax Credits and Tax Relief’s
- Tax Refunds
8. PRSI – Pay Related Social Insurance (What is it all about?)
- Social Insurance rates and charges
- Allocation of Employee’s PRSI Classes and Sub-Classes (A,B,C,D,H,J,K,M,S)
- Costs to both the Employee and the Employer
- PRSI Employee Refunds, Holiday Pay and Related PRSI Costs
- Contribution Weeks and the Possible Consequences
- PRSI Refunds
9. Reviewing a Payslip (Putting it all together!)
- Understand the layout and make up of a standard payslip
- Explaining the different calculations (PAYE, PRSI & USC)
Revenue Returns (Dotting the i’s and crossing the t’s)
- P30 Monthly Return Form
- Review End of Year forms
- How best to run the EOY process
- Week 53 what it means and when does it apply.
10. Starters & Leavers (Where it all starts and ends!)
Please note the course content maybe subject to change, when possible advance notice shall be issued.