PayDay Filing is coming
so if you are an employer this will affect you ..
PayDay Filing is the latest in the IRD Business Transformation project to come online, becoming compulsory from 1 April 2019.
Basically from this date, when you prepare and pay your employees you are going to have file the pay details (gross, tax etc per employee) to the IRD within 2 days of payment instead of the current 20th of the month with PAYE. However PAYE will still be the same, with payment due the 20th of the month following.
So if you use a cloud based payroll system already, you will all be sorted by the time April rolls around. If you use a desktop payroll system, consideration will need to be given to the increased work that will need to be undertaken to comply and whether a shift to a cloud based system will make your payroll compliance more efficient. Then if you do a manual payroll system, real consideration needs to be given to how these changes are going to affect your current processes and whether there are more efficient solutions available.
We understand that the IRD are contacting employer’s (email as well as phone calls) to get them to sign up now. If you do get a call (or contact), our recommendation is to tell them you have it in hand and not to register until a review your process is undertaken.
If you would like to discuss the options available please make contact and we can slot in a time in the New Year to review.