If you are not already aware, one of the major changes coming with IRD is that PayDay Reporting becomes compulsory from 1 April 2019. This replaces the existing monthly Employer Schedule that gets filed on a monthly basis, but payments are still due on the 20th of the month.
Payday filing in a nutshell
From 1 April 2019 employers must:
* File employment information every payday instead of an Employer monthly schedule (IR348).
* Provide new and departing employees’ address information, as well as their date of birth – if they have provided it to you.
* File electronically (from payday compatible software or through myIR) if your annual PAYE/ESCT is $50,000 or more.
Note: The due date for payment remains the same at the 20th of the month (or 5th and 20th of the month for twice-monthly filers).
Ways to payday file
The earnings details and employment information and employee details can be filed in myIR as a file upload or onscreen data entry, OR file directly from payday filing compatible payroll software.
If we prepare your monthly payroll information:
Please note that if we currently prepare your monthly payroll information, we will continue to do so with the payday reporting filing on a weekly, fortnightly or monthly basis, depending on your pay cycles. We will therefore need to prepare each payrun in our payroll system in order to file the payday reporting directly from the payroll software.
If you do your own wages and payroll information:
You will need a myIR account login, as this is a pre-requisite for this option as your myIR logon credentials are required to authorise any file submissions from your software. You’ll need to let IRD know you’ve shifted to payday filing by opting in through your myIR account before you can see or use this account. Note: Paper filers can’t shift to payday filing before April 2019 unless they change to electronic filing.
If we can help you with your ongoing wages/payroll matters, please give us a call on 07-888 6740 and we can assist you so that you are setup to payday file before 1 April 2019. We can process your payruns in our payroll system, and then undertake the payday reporting for you. IRD are encouraging as many Employers to shift to payday filing NOW, in order to get used to the new way of doing things and to avoid a backlog of queries at IRD end all at once.