Enhanced employer reporting requirements from 1 January 2024

All employers, including group water schemes with paid employees, will be required to report any vouched travel and subsistence expenses paid to employees directly to Revenue in advance of payment from 1 January 2024.

This change is as a result of the Finance Act 2022, which introduced Section 897C, requiring employers to report details of certain expenses and benefits made to employees and directors.
Employers will be required to submit details of expenses and benefits using the Revenue Online Service (ROS). This submission must be made by the employer on, or before, the payment date to the employee.

While many group water schemes that have employees utilise the services of an accountant to administer payroll, many would administer travel and subsistence payments directly themselves. GWSs are advised to speak to their accountant in advance of 1 January 2024, who can advise them on what is required under the legislation.

This article originally featured in the most recent edition of the Rural Water News magazine. To read the full edition and to sign up to our magazine mailing list, click here.