Currently, employers file their Employer Monthly Schedule (EMS) on the 20 of the month following each month they pay wages. From 1 April 2019 instead of filing employee information monthly, employers will be required to file employment income information to Inland Revenue on a payday basis. Broadly, this means that employers will be required to file PAYE information with Inland Revenue around the same time their employees are paid (“payday”). Also more employers will be forced to file online. A summary of the changes are below:
If you are using software to complete your payroll it is important that you know whether this software is capable of complying with the new rules. Furthermore, if you are currently filing online it is imperative the owner of the MyIR account is available from 1 April 2019, otherwise you will be unable to file electronically. If you are unsure on any of the above or would like any assistance please contact our software and secretarial team.
Our software and secretarial team will be doing a
presentation on these changes in February 2019 so stay tuned!