Revenue Announce New Reporting Requirements for Expenses & Benefits
From 1 January 2024, all employers in Ireland will need to adhere to new Revenue reporting requirements on the payment of certain types of expenses & benefits to employees and directors.
However, Revenue has advised that “a service for compliance approach will be taken until 30 June 2024”. This approach will involve supporting employers who are attempting to comply with their reporting obligations. During this period, Revenue will not be operating any compliance programmes in relation to the ERR and will not seek to apply any penalties for non-compliance.
There are three categories of expense/benefit that will need to be reported on:
- Travel and subsistence: date paid and amount.
- Small benefit exemption: date paid and amount.
- Remote working daily allowance: date paid, amount, and number of days paid.
It is important to remember that this reporting needs to be completed on the day before payment is made to the employee at the latest.
In terms of Travel & Subsistence, the following details are within scope:
- vouched travel
- unvouched travel
- vouched subsistence
- unvouched subsistence
- site-based employees (including 'Country money')
- emergency travel
- eating on site.
The reporting can be done directly on the Revenue website, but if you have a payroll software provider it may be easier to use the reporting method inherent within that software.
Revenue have confirmed to The Wheel that when the expenses noted above are paid to a charity trustee, these must also be reported to Revenue. Charity trustees are not employees of the organisation, so instead of using your payroll software, it may be more appropriate to report such expenses manually on ROS.
Revenue has a webpage on the changes and a detailed FAQ on these requirements.
If you have any questions about the scheme, please feel free to contact our Director of Finance, Fergal Moran fergal@wheel.ie.