PAYE Settlement Agreement for 2024
It is getting close to that time of year when employers need to consider whether they are required to make an application to Revenue in relation to a PAYE Settlement Agreement (PSA) for 2024.
This will be a significant change, as up to now, the onus was on employees (and directors) to pay the “Relevant Tax on Share Options” (RTSO) through self-assessment to the Irish Revenue within 30 days of the date of exercise. The employees also had to submit Form RTSO1 to the Irish Revenue within the same timeframe.
This change is contained in Finance (No. 2) Bill 2023, which is due to be signed into law by 31 December 2023.
What should employers consider?
There are a number of practical issues that employers should consider:
If you have any questions in relation to the above, or if you would like to discuss this topic further, please contact a member of the Mazars employment tax team below:
Staff Member | Position | Telephone | |
Ken Killoran | Tax Partner | kkilloran@mazars.ie | 01 449 4451 |
Mark Spelman | Senior Tax Manager | Mark.Spelman@mazars.ie | 01 449 6457 |
December 2023
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