25 Jan Revenue facility to pay employees’ 2020 tax liabilities which arise due to the TWSS
Revenue will facilitate employers who wish to pay employees’ 2020 tax liabilities. This applies to Income Tax (IT) and Universal Social Charge (USC) liabilities which arise due to the TWSS.
Revenue will not apply Benefit-in-kind rules to these payments you make on behalf of your employees and have confirmed that confirmed that the BIK exemption is also available where an employer partially discharges an employee’s TWSS tax liability (i.e. the employer is not required to pay the employee’s full tax liability on the TWSS to avail of the BIK-exemption).
As regards proprietary directors, Revenue has noted that the facility is available for PAYE employees and at the moment it does not apply to self-assessed staff.
Revenue also confirmed that they will not be issuing paper notices of the Preliminary End of Year Statements (PEOYS) to persons who are not registered for myAccount. PEOYS are viewable for all employees in their myAccount. Employees can either register for myAccount or use their verified MyGovID to access the statement.
Revenue’s series of videos for PAYE taxpayers (available here) outline how to access the information and services on myAccount, including how to register for myAccount for the first time.