Payroll Fraud – Ghost employees

What is a ghost employee? A ghost employee is someone being paid on the payroll who doesn’t actually work for the company. Through false payroll records a fraudster can pay a ghost employee. The ghost employee may be a false person or a real individual who simply doesn’t work for the employer. How does ghost…

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3 Key Controls In A Payroll System

All businesses who employ staff must rely on a series of controls to ensure that their payroll is being accounted for correctly. Depending on the nature and size of the business these controls can range from very basic to very thorough. Summarised below are some of the basic key controls that should be in place…

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PRSI For Spouse Or Civil Partner Of Self-Employed Individual

The Social Welfare and Pensions Act 2014 provides that PRSI class S now includes the spouse or civil partner of a self-employed person where he/she participates in the business, performing the same or ancillary tasks, but not as a partner or an employee. This is subject to the annual income threshold of €5,000 that currently…

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Travel to Work Concession

Provision of monthly or annual bus or train passes by an employer to an employee or director is not a taxable benefit in kind (BIK). This exemption applies not only to transport services provided by State companies but also to transport services provided by licenced private transport operators to include travel on commuter ferry services which…

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Accrual Of Statutory Annual Leave When Absent On Certified Sick Leave

Since 1st August 2015, the Organisation of Working Time Act 1997 has been amended, to provide that any day of absence on certified sick leave is considered to be time spent working for the purpose of accruing statutory annual leave. This change brings the annual leave provisions of the Organisation of Working Time Act 1997…

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Home Renovation Incentive (HRI) Scheme

The HRI scheme has been extended to include rental properties owned by an individual and occupied by a tenant, where the tenancy is registered with the Private Residential Tenancies Board (PRTB). Tax Credit The HRI scheme gives tax relief to homeowners in the form of a tax credit who use VAT registered and tax compliant…

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Qualifying Home Loans

A qualifying home loan is a loan from an employee’s employer which is used to purchase, repair, develop or improve the employee’s principal private residence or for paying off another loan used for that purpose. If the employee received the loan with no interest charged at all or for a rate lower than the normal…

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Rent a Room Relief

Where a person rents out a room in their principle private residence, the income received is exempt from Income Tax provided it does not exceed €12,000 in 2015 (€10,000 in 2014). This exemption does not apply to rent received from a child of the individual or of the individual’s civil partner. What Questions Do You…

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Companies Act 2014: Directors’ Offences

The Companies Act 2014, to be commenced in law in June 2015, will introduce a number of reforms with regard to breaches of company law by directors. Company law offences will now be categorised on a scale of 1 – 4, with offences under category 1 and 2 being the most serious and which will…

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PRIVATE MEDICAL INSURANCE: The Older You Are, The More You Will Pay

Extra fee on first time health insurance contracts From the 1st May 2015 the Department of Health will introduce regulations that impose a loading of 2% on first time in-patient health insurance contracts where the individual is aged 35 or over up to a maximum loading of 70%. The loading will apply to every year…

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