Employers – Payroll issues to watch out for in 2024

Payroll Issues to Avoid in 2024

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2024 Revenue Payroll Notifications

Remember that you cannot use 2023 Revenue Payroll Notifications for 2024. RPNs for 2024 are available from Revenue. It is important not to file a payroll submission with a 2024 pay date until the 2024 RPN is available.

National Minimum Wage

The national minimum wage will increase by €1.40 per hour to €12.70 per hour from 1 January 2024.

Payroll taxes

Changes announced in the Budget that will affect payroll in 2024 include a €2,000 increase in tax bands and modes increases in personal tax credits. For details of these and other relevant changes see our Budget 2024 article.

PRSI

PRSI contribution rates will increase by 0.1% from 1 October 2024. This will affect all PRSI contribution rates. There is due to be a further 0.1% increase in 2025.

Enhanced reporting requirements

Enhanced reporting requirements come into effect on 1 January 2024. This will affect you if you provide certain reportable benefits to your employees or directors. Reportable benefits include the remote working daily allowance, travel and subsistence expenses and benefits such as Christmas vouchers which avail of the small benefit exemption. (For details, see Nikki’s September article on  reportable benefits.)

Additional leave entitlements

If you haven’t already done so, it’s important to familiarise yourself with two additional leave entitlements that were introduced last year. Medical Care Leave came into effect on 3 July 2023 and entitles employees to up to 5 days unpaid medical care leave in any consecutive 12-month period. Domestic violence leave came into operation on 27 November 2023 and entitles employees to take up to 5 days paid domestic violence leave in any 12-month period. These additional leave entitlements have workplace policy and record-keeping implications for employers.

Pensions

An auto enrolment pension scheme which will give all employees access to a workplace pension savings scheme co-funded by their employer and the State is due to be gradually phased in, starting in late 2024.

Other issues

Although not directly related to payroll, other issues to be aware of include new whistleblowing obligations and a one-off grant to help businesses cope with increased costs.

  • Whistleblowing: From 17 December 2023, all private sector organisations with 50 or more employees must establish internal channels and procedures for their workers to report wrongdoing. Previously this requirement only applied to organisations with 250 or more employees. Public sector organisations must comply with the requirements regardless of size. (More information is available on the Workplace Relations Commission website).
  • Increased cost of business grant: This grant was announced as part of Budget 2024. It is due to be paid in once-off grants to small and medium businesses in the first quarter of 2024. It will provide a cash injection of up to €5,000 for over 140,000 eligible businesses. (Further information is available on ie)

Need help?

If you are a GroForth client and need more information on any of the issues mentioned in this article, our team is on hand to help. During busy periods, the best way to contact us is via the contact form on this website or by email

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