Brewer Morris’ Post

ENHANCED REPORTING REQUIREMENTS – WHAT EMPLOYERS NEED TO DO NOW Employers must report a lot more about tax-free payments made to employees from the start of this year. Michelle Egan C.T.A., Tax Manager with DHKN, looks at what employers and payroll departments need to look out for.  #PAYE #Enhancedreporting #ERR Leading At The Edge - Leadership insights from the frontline Chartered Accountants Ireland Platform94 https://lnkd.in/eRPzBDAY

Determining Province of Employment (POE) for Employees Effective January 1, 2024, CRA's policy has changed regarding the POE for employees who are working remotely. The POE will depend upon whether the employee can be reasonably considered "attached to an establishment of the employer". This will change the tax deductions for some employees who are working remotely. #cdntax #employees #employers https://lnkd.in/gmPBdg-E

Many people have taken advantage of the boom in working from home to work elsewhere in the world (even if they're not telling HMRC about it!). As idyllic as this sounds, for employers it can be a serious headache as it may create a permanent establishment in another country. This can lead to additional taxation and reporting requirements. For employees, they may find themselves needing to pay income tax and social security in the other country, even as they are still having tax and NIC withheld in the UK. Employers and employees need to have conversations about this, and loop in tax advisers to understand and mitigate the risks. https://lnkd.in/gXpMTr9i

👉 Considering contracting or placing contractors in Ireland? Here's everything you need to know about work permits, payroll, taxes, and more. Download our free guide: https://lnkd.in/dFNGhpXs #AccessFinancial #Ireland #ContractinginIreland

Am I an employee or a contractor? Tax season is almost over, but whether you still have questions for 2023 or are staying ahead for 2024, knowing what kind of employment you are engaged with is critical for proper tax filing and maximizing your deductions.

In case you missed it – this week our Tax experts shared their PAYE insights to ensure that employees claim their full entitlements and employers are alerted to tax obligations such as Enhanced Employer Reporting requirements and reporting deadlines outside of real-time PAYE. Watch our insights: https://lnkd.in/ Olive O'Donoghue John Galligan Rory Morgan Darragh Duffy #PAYEWeek

Employers, as remote work becomes the norm, it's crucial to understand state tax regulations. Ensure your payroll processes are set up to withhold the correct taxes based on employees' work locations. Stay compliant and avoid penalties by staying informed! #RemoteWorkCompliance #StateTaxes #PayrollSolutions https://bit.ly/3z9kBMU

“The move to the collection of employee liabilities on share option exercises through the PAYE system in such a short timeframe is likely to present several challenges for employers, at least until appropriate processes and procedures have been developed to aid compliance with the new rules.” Olive O'Donoghue and Thalia O'Toole of KPMG Ireland explain the amendment provided for in Ireland’s Finance Bill (No.2) of 2023, which overhauls the method by which taxes on employee share option gains are collected and remitted to Irish Revenue. Read the full article on the Accountancy Ireland website: https://brnw.ch/21wF1Ye #EmployeeShareOptions #FinanceBill

Yesterday afternoon at Pacheco Center in Brussels it was all about taxation!🔍 Interesting updates & panel discussion related to challenges linked to remote working of cross border workers held by panel members from OECD, NL & BE tax authorities, DG TAXUD, academics and lawyers. 💡In a nutshell: ➡️The taxation of wages in case of teleworking by cross-border workers: Current rules with taxation in the country of residence for income generated in that state due to telework (except for minor exceptions like 34 days) are too complex. Potential alternatives in the pipeline: 📌Exclusive taxation in the country of residence; 📌Exclusive taxation in the country of employment; 📌Taxation in the state of residence + withholding tax in the country of employment; 📌Threshold rule (exception on a particular Nr of days/%): this option could offer an alignment with social security rules if a threshold of 50% would be adopted. I personally agree that this alternative could offer the biggest simplification. ➡️The evidence a cross-border worker needs to present: current approach in BE is actually too strict in comparison with some other countries (like NL) and the relaxation of rules on what documents shall be accepted in the event of a tax inspection shall be considered; ➡️Whether and in what circumstances teleworking can generate a permanent establishment (PE): we do not want to live in a world with ‘’micro-PEs’’, balancing between a very limited profit vs a huge administrative burden to the state. To determine if a home office can generate a PE it will remain crucial to check whether the location is ‘’at the disposal’’ of the employer and whether the employer makes remote work compulsory. 📖 Quote of the day: ‘’Every time we change tax rules we shall ask ourselves- are we making the world better?’’ (Prof. Dr. Luc De Broe) Thank you FOD Financiën - SPF Finances for organising this insightful conference and hopefully we will be able to attend a similar event somewhere next year for further updates on this important topic! ℹ️For those who are interested to review the entire panel discussion, the recording is available here📽 https://lnkd.in/d9sJjZ59 #crossborderworkers #taxation #teleworking