Enhanced Reporting Requirements Begins 1st January 2024

December 21, 2023
|In Payroll
|By Angela O'Leary

From the 1st January 2024, all employers will need to report additional information to Revenue about certain expenses and benefits made to employees.

These new rules, Enhanced Reporting Requirements, will require you to file an additional return with Revenue on or before any payment of benefits to an employee occurs.

What has to be Reported in the Enhanced Reporting Requirements?

Under these new rules, brought in under the Finance Act 2022, If you pay your employees any of the following, you will need to comply and report the information in real-time:

Travel and Subsistence

  • Travel -vouched and unvouched
  • Subsistence – vouched and unvouched
  • Site based employee allowance, including payment that compensates employees for expenses incurred travelling
  • Emergency travel allowance
  • Eating on-site allowance

Small benefits falling under the Small Benefit Exemption

  • Vouchers or other tangible non-cash benefit.
  • However, employees can only receive a maximum two benefits in a tax year, where the cumulative value cannot exceed €1,000.

Remote working daily allowance

  • Report the number of days, amounts paid and dates of payment of this allowance of €3.20 per day.

The Importance of Real time Reporting

This is a major departure to previous reporting. When Revenue talk about “on or before any payment” it now requires employers to submit when payment is given.

While employers were already supposed to keep up to date records, the reality is that many businesses haven’t. Now they will have to keep and submit records.

Are you Enhanced Reporting Requirements Compliant?

Now is the time to put some effort in to ensuring you are compliant. You may want to:

  • Review how you are currently collecting this information and see if it fits with Revenues requirements.
  • Create a system to collect and confirm amounts, across all departments.
  • Decide who will be responsible for reporting these additional Enhanced Reporting Requirements.

The Revenue have compiled a list of frequently asked questions about Enhanced Reporting Requirements that you may be interested in.

What’s Next?

While nothing further has been revealed as of yet, Revenue have indicated that this measure, will be the first phase of additional employer reporting.

If you need any help with ensuring you are compliant or how to set it up, please get in touch. Email info@agassociates.ie. or call us on 021 482 4723.