Feature Article
Mayor of London Sadiq Khan to Speak at Christmas Lunch

 

We are delighted to announce Mayor of London, Sadiq Khan as the guest speaker for our Christmas Lunch 2018. Kahn has been Mayor of London since 2016 and is the elected voice of the capital. The Mayor's role as the executive of London's strategic authority is to promote economic development and wealth creation, social development and improvement of the environment.

 

The lunch is kindly sponsored by Vodafone and will take place on Thursday 6th December in the Clayton Hotel Burlington Road. Tables are priced at €1500 and individual tickets are €125, contact Máire Fay maire@dublinchamber.ie to reserve your place. Please book early to avoid disappointment. 


It's Almost Time To Nominate Your 2019 Council
 

Nominations for the Chamber Council Elections will open on the 26th November.

 

Did you know you are eligible to run for election to the Council of Dublin Chamber?  You can nominate yourself, or any other member of the Chamber, to run for election to become a member of the representative body for Dublin Chamber. Council members represent the interests of the Dublin Business Community, helping to steer Dublin Chamber’s policy agenda over a three-year term. 

 

Find out more about running in the elections here.

 


Our PAYE System - A Culture Change Won't Be Without Pain
 
PwC's Doone O'Doherty
PwC's Doone O'Doherty

Real Time Reporting (RTR) will come into effect for employment taxes and payroll compliance on 1 January 2019.

 

RTR will herald the end of the familiar P-Forms: no more monthly P30s or annual P35s, no more P45s or yearly P60s. We will see a vastly different PAYE landscape emerging with the responsibility being on employers to supply the relevant payroll data to the Revenue at the same time as employees are paid.  The consequences of not doing so may mean Revenue audits, fines and penalties.

 

Understanding the key payroll information flows and taking judgement calls about how and when data should be processed will be crucial in preparing effectively for RTR.


The first RTR related deadline has already passed (submission of employee lists by 31 October 2018). Time is running out for organisations to prepare for the commencement of RTR. If your organisation is one of many that has not yet grasped the RTR nettle, the below, written by Doone O'Doherty, Tax Partner, People & Organisation, PwC and Jessicay Webbley, Senior Tax Manager, People & Organisation, PwC, summarises some key areas of focus for you now.

 

Data management will be an important part of preparing for RTR with data quality being crucial. This will include, for example, ensuring that all employments are properly and promptly registered with Revenue. Revenue’s request to all employers in Ireland to submit a complete and up to date list of current employees by 31 October demonstrates the importance to Revenue of data alignment. Data is the cornerstone and Achilles heel of RTR. Revenue’s very strong data analytic capabilities will stress test data quality and management within organisations, including completeness and timeliness.

 

Under RTR employers will be required to report pay, tax and other deductions, as well as details of employees leaving their organisations, on or before the date of payment to employees. If your organisation has weekly payrolls or more than one monthly payroll, a full and detailed submission to Revenue will be required on or before each and every payroll. Payroll software will need to be updated to support the generation and / or submission of this real time reporting to Revenue. Your payroll service provider (if outsourced) or payroll software provider (if in house) will be able to assist with necessary software updates.

 

But it’s not just about IT and system. It’s as much about a culture change. Revenue describes the proposed move as a "fundamental change ... for Revenue and employers". Revenue’s view is that there will be "significant business process change and change management exercise to be completed...for Revenue and employers alike".  

 

Companies with globally mobile workforces need to pay particular heed. Mobile employees generate a significant amount of data for their employers. The onus is on the organisation to process and report the right tax deduction at the right time for the right employees and in the right location. This will bring particular challenges.  

 

Similarly, any organisations delivering non-cash benefits or equity will need to review how and when this information gets into payroll and whether it will meet Revenue’s stringent expectations of appropriately robust business processes under real time reporting. For example, Revenue has been very clear that annual catch ups / adjustments of car BIKs would not be acceptable.

 

Revenue is keen to emphasise the potential benefits to employees. This includes the better use of credits and bands within the year, especially for people with multiple employments. The benefits for employers include less administration arising from the removal of year end reporting obligations. It may take time for these benefits to be fully recognised and appreciated by employees and employers.  In the short term, however, the main beneficiary from RTR will be Revenue. Under RTR, Revenue will have significantly more, and more detailed, information from payroll reporting than at present.  We know that Revenue is already planning to use this information for more detailed scrutiny on employee matters.  

 

Payroll brings together so many different information types and sources, from personal employee details to salary reporting, as well as medical insurance and pensions etc. Due to its complexity, implementing RTR will require that many people in the organisation work together. The communication process will also be very important, among various internal employer stakeholders and with employees.  Organisations will need to be fully aware of and collaborate with all stakeholders in their organisation’s employment tax universe, from the payroll manager, to HR to Finance to team leaders making decisions in relation to ad hoc benefits and working arrangements. If third parties are involved in the provision of taxable benefits reporting, another layer of challenging real time information and actions will need to be considered.

 

RTR will present a significant business process change and we urge businesses to start planning immediately, if they have not already started the on the road to getting real time ready.

 

ENDS

 

More News
Culture Calendar
 

Autumn weekends are ideal for checking out the city’s museums and galleries.

 

Be sure to take a trip to these spectacular exhibitions at IMMA and the Douglas Hyde Gallery at Trinity College this month. 


At the Irish Museum of Modern Art, Kilmainhan, you can see the first retrospective in 50 years for Irish painter Mary Swanzy (1872-1978) and an exhibition of 100 photographs by celebrated German artist Wolfgang Tillmans, who had a major show at Tate Modern last year.

 

Running at the Douglas Hyde Gallery, Trinity College until 17 November (closed Sundays) is ‘my comfort and my joy': Songs from the Irish Other, a collaboration between artist, and musician, Seamus Harahan, and Irish Traveller and singer Thomas McCarthy.

Political Leaders with Eamon Ryan TD
 

We are delighted to announce the Green Party Leader Eamon Ryan TD as the next speaker in our Political Leaders Series.

 

Book your place here for this breakfast briefing on 15th November.


Date: November 15th 2018

Time: 8am- 9:30am

Venue: Dublin Chamber, 7 Clare Street, Dublin 2

 

A native of Dublin, entrepreneur, and former Minister for Communications, Energy and Natural Resources, Eamon Ryan represents the Dublin Bay South constituency. He will speak about his vision for the capital city and discuss Green party policies as they affect both businesses and the wider community.

 

This will be a unique opportunity to meet Eamon Ryan TD and ask him questions that are important to you and your organisation.

 

Diversity and Culture Survey
 

The Culture and Diversity Taskforce was formed from members of the Dublin Chamber Council in 2017. Included in our strategy 2018-2022 is the goal is to ensure that our membership base is reflective of the broad business community in Dublin by ensuring that our services reflect the needs of a diverse group of people and businesses. 

 

Please take this survey to inform the taskforce’s work and identify priorities for action. Take the survey here


Simon House of Cards Appeal
 

Don’t Send a Card. Address a Problem.

 

Help Simon fight the growing and changing nature of homelessness in Ireland today. Someone you know could be affected and you might not even be aware. Instead of sending corporate Christmas cards or gifts this year, get involved in the national Simon House of Cards Appeal 2018.


Simon is asking you to make a difference to the lives of almost 10,000 people experiencing homelessness in Ireland today. In recognition of your generosity, we will extend your company’s Christmas greetings to your clients, colleagues and suppliers by featuring your logo or listing in three full pages of The Irish Times in December and your company logo or listing will appear in the spectacular three day Simon House of Light projection show at Powerscourt Townhouse Centre in Dublin.

 

But most importantly, you, your staff, customers and clients will have the benefit of knowing that you’ve given the most valuable Christmas gift you possibly could to the people in our community who need your help the most.

 

To pledge or for more information contact our team on
01 472 2133 or email: corporate@dubsimon.ie

 

 

 

 

Hong Kong Trade Mission
13th- 18th January
 

This mission is organised annually to identify new opportunities for Irish companies in the Asian market. The programme will include networking activities and will be varied to include insights, site visits and activities across a number of sectors including Finance, Fintech, F&B and Smart Technologies.

 

Please contact Valentina Bilic valentina@dublinchamber.ie for more information


Looking to Export?
 

The Export & Consular Services department helps companies to get goods shipped abroad, to register products in export markets and to visit export customers.


Services offered include:

•             Certificates of origin issued and stamped

•             Certification of export documentation

•             ATA Carnets, for the temporary export of goods, issued,

•             Legalisation of export and regulatory documentation,

•             Visas for your business travel needs.

 

For further information on any of the above services please contact: Richard Brown (01 644 7204 / richard@dublinchamber.ie) or Aleksandra Balcerzak (01 644 7205 / aleksandra@dublinchamber.ie)

Business Ireland Q3
 

The latest issue of our Business Ireland was published with The Irish Times last week. This Q3 edition features articles on turning your passion for pets into a business and our National Conversation initiative, as well as lots of member news and profiles. You can download a pdf version here.

 

The next issue of our magazine Business Ireland will be published in December. To learn more about advertising opportunities, please contact Emma Gleeson egleeson@irishtimes.com


Chamber News Roundup

**Donate Old Office Computers**

We recently donated 4 old office computers to Camara Education which are now being used in a school in Ethiopia. We encourage you to donate too, contact Lucy.

 

**Membership Plus- New App!**

Don’t miss out on some fantastic discounts via your Membership Plus card - Aviva Stadium Tours, The Fitzwilliam Hotel, Shelbourne Park Stadium, Platform 61, EPIC Ireland, Kylemore Karting, Irish Whiskey Museum and many more! 

 

** Room Hire **

Looking for room hire in the city centre? We have some great room rates available for members here at 7 Clare St. Take a look at our rooms here and for further information contact  Ruthe@dublinchamber.ie.

 


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