Revenue’s Enhanced Reporting Requirements from 1 January 2024
Revenue’s Enhanced Reporting Requirements from 1st January 2024: What you need to know
From the 1st of January 2024, the introduction of Section 897C into The Finance Act 2022 will require employers and payroll processors to report details of certain payments made to employees and directors. Where you make one or more of the payments listed below, you must submit the details electronically to Revenue. This submission must be made on or before the payment date.
Phase one will apply to the following payments:
Small benefit exemption
You will be required to report the date paid and value of this benefit.
Remote Working daily allowance
Where a Remote Working daily allowance is paid, you will be required to report the following:
- total number of days
- amount paid
and
- date paid.
Travel and subsistence
The following Travel and subsistence items must be reported, including the date paid and amount of each payment:
- travel vouched
- travel unvouched
- subsistence vouched
- subsistence unvouched
- site based employees (including “Country Money”)
- emergency travel
and
- eating on site.
How will you report this information to Revenue?
A facility will be available in Revenue Online Service (ROS) to allow you report these payments to Revenue. This facility will be similar to that used currently for payroll reporting.
There will be continuous engagement with stakeholders as this work is progressed during the year. This began in January, with Revenue contacting all stakeholders seeking their engagement in the implementation of this reporting requirement.
Employer Engagement
In the coming weeks Revenue (via ROS) will begin providing information sessions on Enhanced Reporting. These sessions will give an overview of what will need to be reported to Revenue. Separately engagement with Software providers is taking place to ensure their systems integrate with Revenue systems. The presentations will cover:
- requesting Employer Reporting Notifications by file upload
- submitting expense/benefit details by file upload or by online form
- view expenses/benefits by submission type and
- employees view of submissions made by their employer in myAccount.
These sessions will commence in late August and will run until mid-November. A link to Eventbrite will issue to you where you can register your interest in attending one of these events. No fees will be charged for attendance at an event.
For more information see the Revenue website.
It should be noted that the new requirements from January 2024 represent phase one of Enhanced Reporting Requirements (ERR). Revenue has not yet indicated what will be included in future phases.
The SFA has engaged with Revenue and the Department of Finance on the cost and administration burden of this new regulation and will continue to advocate on behalf of members on his matter. If you have any questions or would like to raise concerns about this with the SFA, please email elizabeth.bowen@sfa.ie.
Join the SFA to learn more about our lobbying activity.
