Payday Filing

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From 1st April 2018, businesses will be able to file payroll information each time they process a pay run, rather than once a month. This process replaces the employer monthly schedule.

Although this is an option form April 2018, businesses should note that it will be compulsory from 1 April 2019.

The purpose of this change is to make a business’s tax requirements part of its payroll process, rather than being a separate step.

Several payroll providers are able to support payday filing so if you haven’t already, check with your provider to see if they are one of them, and how you can take advantage of this functionality.

If you don’t use payroll software, you should start planning now and figure out a system that will work for you, and ensure you meet your obligations. There will be time after your payday to file the returns.

Payment due dates for PAYE and other payroll deductions won’t change.

For more information, check out the IRD website here…