Employers Paying Employees 2020 Tax Libability
As previously advised, Revenue have begun issuing preliminary end of year statements (PEOYS) for employees in receipt of TWSS.
We have noticed that some employees are not yet able to access their PEOYS. In this regard, Revenue have commented recently that:
“As regards proprietary directors, Revenue has noted that the facility is available for PAYE employments and at the moment it does not apply to self-assessed staff”.
This may be the reason that some of your employees have not been able to access their PEOYS.
We have made representations to Revenue to clarify their comment. For example:
- What do they mean by their comment “at the moment it does not apply to self-assessed staff”?
- How will this affect employees who happen to be registered as self-employed, such as:
- Employees who are jointly assessed with a non-PAYE spouse.
- Employees who have more than €5,000 in non-PAYE income.
We will keep you updated with developments. For the moment, you may not be able to finalise paying your employees tax liabilities, as you had agreed.
The deadline for making such payments is 30 June 2021.