These are being labeled “Enhanced Reporting Requirements” and are to be found in the Finance Bill 2022 of Section 897C of the TCA 1997 which will require employers to report to Revenue details of the following payments made to employees and/or directors. The requirement to provide this information will commence in 2024.

 

These are the vouchers that many company directors and their employees receive during the year and most commonly in December. The total value of the tax-free benefit or vouchers an employer can give an employee per year has increased from €500 to €1,000. The number of qualifying vouchers or incentives per year has also increased from one to two.

 

This is the new allowance that was introduced during the Covid crisis. A payment of not more than €3.20 per day to an employee by his or her employer in relation to the days the employee performs the duties of their employment from their residence where no tax was deducted.

 

Currently mileage and subsistence claimed are recorded internally and paid direct to employees and directors. Any payment made to an employee by their employer in respect of expenses for travel or subsistence incurred by the employee where no tax is deducted.

Since 2019, employers report their employees and/or directors pay and deductions in real time as part of their payroll process. In keeping with this approach, where an employer provides any of these payments the employer will submit these details to Revenue in electronic format, on or before the payment date of such payment. This information will be uploaded to Revenue and no doubt revenue will be analysing these payments for irregular patterns or amounts and contacting employers for clarifications where they feel there may be inaccuracies occuring.