Paycheck Plus - Making Payroll Easy

Following on from our previous blog on ‘Swine Flu and the Workplace’ it has being advised by the small firms association that the majority of its members have no contingency plans in place to cope with an outbreak of swine flu. The association says this could mean losses of up to €90m for small businesses if the virus continues to spread. Only half of companies have cross-trained staff to ensure they can maintain services in the event of absenteeism and a quarter have the provisions in place to enable staff to work from home. The Small Firms Association is advising all firms to plan ahead and be prepared for a possible outbreak to ensure services can be maintained.

A National Pandemic Influenza Plan is available from www.hse.ie and www.dohc.ie An excellent document with advice for businesses on preparing for an Epidemic is available at http://www.hse.ie/eng/swineflu/detebcm.pdf. The information guides employers through an implementation plan and even has case studies for various business types.

At least there is one area you don’t have to worry about. If you are a client of Paycheck Plus we will ensure that your staff get paid – even if every member of your financial team is out sick! Our team have contingency plans in place to cover such an eventuality to ensure that we can meet your payroll requirements. They are not only qualified to the highest standards available, they are familiar with the payroll for every company utilizing our cost-saving and efficient payroll outsource service. Why suffer the stress of not having suitable qualified people available to process your payroll when there is a cost saving and effective solution available? Avoid payday stress – click this address: http://www.paycheckplus.ie/contact.htm or call us on 041 988 1774.

Reduced frequency of tax returns and payments for Employers PAYE/PRSI and VAT, have being extended to newly eligible customers. The arrangements below which were introduced during 2006 and 2007 are being extended to include newly eligible customers from 1 January 2010.

The reductions relate to

• Business making total annual PAYE/PRSI payments up to €28,800, are eligible to make their payments on a quarterly rather than monthly basis.
• Businesses making total annual VAT payments of less than €3,000 became eligible to file VAT returns and make their payments on a 6 monthly basis
• Businesses making total annual VAT payments of between €3,000 and €14,400 became eligible to file VAT returns and make their payments on a 4 monthly basis.

The idea of the Revenue in implementing these reduction timescales is to improve cashflow for businesses as payments only have to be made at the end of each quarter, 4 monthly period or 6 monthly period as appropriate. Of course, if Paycheck Plus is looking after filing your Revenue Returns the only difference to you is cash flow as you do not have to worry about the administration issues of filing your payroll revenue returns (P30’s, P45’s, P35 etc).

The Revenue is currently writing to all eligible businesses to advise them of the reduced frequency which will take effect from 1^st January 2010.

Having won several awards over the last few years, this time Ecocem has been recognised as a Deloitte Best Managed Company. Group Managing Director Donal O’Riain explained in the Sunday Business Post this week that their operation designs and builds their own plants including their latest €23 million facility in France. The new facility will be pivotal to the growth of the company in the European market. The company currently employs 70 staff and produces 350,000 tonnes of environment-friendly cement annually.

Kevin Sheehan, partner in Deloitte complimented Ecocem not only on their innovative product but on their sound expansion strategy which illustrates how the Irish company “shrewdly looks at what other locations will be profitable for them”.

Ecocem recognise that to maximise efficiencies they need to focus on their core business. They are one of a growing number of progressive companies who realise the benefit of outsourcing non-profit making activities such as their payroll. Frank Farrelly of Ecocem commented “Our mission at Ecocem is to be the leader and centre of excellence in the production and use of GGBS as an economic and environmentally friendly cement in Ireland. Because of this mission, we need to attract the best staff and not have to worry about paying them at payroll time! Paycheck Plus looks after our payroll which includes basic pay, overtime, shift premiums, depending on the month. One month is never the same an another. They let us do what we do best – our job of making environmentally friendly cement, safe in the knowledge that we are kept up to date with our payroll and revenue payments.”

Paycheck Plus are proud to be part of the support network to leading companies such as Ecocem. We congratulate them on their most recent accolade and wish them continued success in the future.

Overpayments of both employers and employees PRSI occur when employees are put on the wrong PRSI class.

While software systems adjust the rate of PRSI payable for employees when processing payroll, it does not recognise which class the employee should be on. The PRSI class depends on personal circumstances as well as earnings. Most payroll is processed by classifying employees at Class A regardless of their personal circumstances resulting in overpayment of PRSI and levies for both employers and employees. At Paycheck Plus we understand the complexities in processing Irish payroll. For employees aged 66 and over, correct classification results in the employee PRSI being reduced to zero so they are only liable for the Health Levy. The savings don’t stop there. On the correct class, employers pay the reduced PRSI rate of 0.5%, saving a massive 10.25% of the employees gross salary.

So don’t delay, check out the date of birth of any employee you think may be applicable and advise Paycheck Plus today of those employees aged 66 years and over. We will adjust them to the correct class and generate immediate savings for you and your employees. Another great reason for using Paycheck Plus for your payroll outsource requirements!