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Showing posts from April, 2022

Understanding Revenue Payroll Notifications – RPN in Ireland

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  Revenue Payroll Notifications (RPN) are crucial for both employers and employees in Ireland’s payroll system. This blog will delve into various aspects of RPN, addressing common questions and misconceptions. Why is there no RPN for Employees? Revenue Payroll Notifications (RPN) are not directly provided to employees but are instead furnished to employers. The reason behind this is that the RPN contains detailed tax information that employers need to calculate the correct amount of tax to deduct from an employee’s pay. Employees do not need the RPN themselves as their primary concern is the net pay after deductions. However, they have access to similar information through their  payslips  and the Revenue’s online services. What is the RPN Tax? The RPN tax refers to the taxes calculated based on the details provided in the Revenue Payroll Notification. This document outlines how much tax should be deducted from an employee’s salary. It includes information on income...
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Key issues facing Irish restaurateurs

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  It’s no surprise that that food services in Ireland were among the hardest hit businesses as a result of the Covid pandemic. The industry has shown adaptability, perseverance, and tenacity to survive. Now believing that the worst part of the crisis has passed, the industry needs to look at ways of reducing costs and improving efficiencies. With leaner teams and limited resources, restaurant owners will need to focus on staff motivation and technology to help overcome some of these obstacles and help with their overall operations. Staff morale There have been many reports of poor staff morale in the hospitality industry, with five common themes emerging. Fear of being exposed to the virus Inadequate safety policies Job insecurity Inconsistent pay and hours Lack of health benefits and paid time off All of which have added to increased occupational stress and led to uncertainty for staff to return to the restaurant industry. Payroll is undoubtedly one of your mos...
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accounting and payroll Services in iraland

The world of offshore accounting is a mysterious one. The only people who seem to understand it are the accountants who work with it every day. And yet, it's the backbone of the global financial system. On the surface, it might seem like a bunch of numbers, but in reality it's a language. Tax authorities around the world are increasingly turning to experts in the field of “offshore” accounting to help them crack down on tax evasion. But for companies that specialize in helping their clients avoid this scrutiny, these investigations can be a nightmare. That’s because uncovering even a single offshore account can be enough to trigger an audit by a tax authority — and that means a company’s entire offshore network could be exposed. For many companies, that’s a risk they’re willing to take to avoid having to pay taxes they don’t owe. The world of offshore accounting is a murky one. For years, corporations have moved their tax residences to countries with low or no taxes in an e...
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Payroll services

Here at Osservi Payroll we work to become your outsourced payroll department, to become a part of your team, managing every aspect of your payroll from payroll calculation and payroll processing through to preparing and processing your tax year-end. When you partner up with Osservi Payroll we will provide you with the relevant tools to allow you to communicate to us who you would like to pay, and how much. Then, we take that information and work out the relevant additions/ deductions and provide you with a summary for your approval before paying your employees and the necessary taxes and NIC's to HMRC via Bacs. Fully Managed Payroll services Payroll can be daunting and extremely frustrating for most small and medium-sized companies. Not only do you need to make the payments on time, but the ever changing HMRC legislations and employment issues can make it all seem like a travail task. This often leaves employers feeling out of their depth or uncertain about if they have met all the...
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Popular posts from this blog

What are Ireland's Payroll Deduction Requirements?

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As legislation continues to become increasingly complex in Ireland, employers face severe challenges to remain up-to-date on employment legislation and payroll issues. Employers have to face heavy fines, penalties and interests if they do not ensure that their payroll is functioning efficiently and cost-effectively. There are certain statutory deductions in Ireland for payroll such as PRSI, PAYE and USC which now appears that employers will also be obliged to deduct the new property tax from the gross pay of their employees. These taxes are the single largest source of revenue for the government so it is necessary to administer the processing of payroll. Employment in Ireland is precise and detailed. In recent years many businesses from across the globe including many tech-based companies have established their base in Ireland due to a relatively low corporate tax rate of 12.5%. Outsource your payroll related service to companies li...
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What Are The Differences Between Bookkeeping And Accounting?

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Does your firm need accounting and bookkeeping services? Accounting and Bookkeeping are two major financial functions that are extremely important for any business organization. In the simplest of simple terms, we can define bookkeeping as the recording of financial transactions whereas accounting gives you a clearer picture of interpreting, analysing, classifying, reporting and summarizing of financial data. For laymen bookkeeping and accounting can appear to be the same because both deal with the financial data with basic accounting knowledge, classify and generate reports using the financial transactions. At the same time, bookkeeping and accounting are inherently different and have their own set of characteristics and advantages. Let’s understand the functional difference between bookkeeping and accounting. Bookkeeping is the process of recording, storing, retrieving financial transactions of a small, medium or large company, non-profit organization, an individual person etc. T...
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How Can Bookkeepers Save You Money and Headaches

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Having a business requires a lot of administration from management to marketing, sales and accounting- if you are in business your time is stretched in looking at the nitty-gritty of all the important tasks. If this sounds familiar, all you need is a breathing space that will require you to delegate the authority to someone else. While being new to the business, cash flow can be a challenge but you will need to understand the importance of your time that can be used in bringing new clients, expanding your services or products which can launch you into the next stage of business growth bringing breakthrough in your business. If you aren’t natural with numbers hiring a bookkeeper or outsourcing your bookkeeping service is the most advisable. How? It is fairly self-evident that hiring a bookkeeper means your finances are handled by a professional who will manage and keep track of each financial transaction better than you. Your records will be well organized and accurate which will exped...
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