Ake Accounting | Whakatane Chartered Accountants | Māori Focused Specialists
Māori-Focused Accounting Specialists

News

Firm Announcements and Accounting Updates

Payday Filing Starts 1 April 2019

Payday filing is here for all employers

From 1 April 2019, you’ll need to file information about employee earnings and PAYE with Inland Revenue (IR) more often. At the moment, employers typically provide this information each month.

If you’re filing electronically, you’ll need to file within two working days of each payday. If you’re filing via paper, you’ll have a little longer. You should also get familiar with the rules for things like schedular payments, shadow payrolls, IR56 taxpayers and employee share schemes.

If your business pays $50,000 or more a year in PAYE tax and Employer Superannuation Contribution tax, you have to file electronically from 1 April 2019. You can still file on paper if you pay less than $50,000.

All businesses should make sure they’re ready for 1 April.

  • If you’re using software, check it’s payday compatible.

  • If you’re filing through myIR, make sure you’re familiar with the Payroll returns account.

  • If you’re filing on paper, get used to the new forms you’ll have to fill in. You’ll receive them automatically in late March if you’re currently filing monthly employer schedules on paper.

Follow the below link for more information

Read More

Matthew Davis