Will Irish fathers benefit from two weeks paid paternity leave?

Fathers could be in line for up to two weeks paid paternity leave which is expected to be included in Budget 2016. Currently, maternity benefit is paid for 26 weeks at €230 a week, with an additional 16 unpaid weeks available.

Ireland is one of nine European countries that do not provide a statutory entitlement to paid paternity leave. In the UK fathers can take up to two weeks ordinary paid paternity leave, paid by the employer at the flat rate of £138.18 per week or 90% of their average weekly earnings (whichever is lower), and the option to take additional paternity leave.

Before the fathers amongst you start celebrating, Minister Aodhán Ó Ríordáin was careful not to make any commitments regarding changes to our current regime. Adding a note of caution, he said that “there is nothing definite in Irish politics…Things can change and priorities can change”.

This is one to watch in the future perhaps!

Contact Tailored Payroll for all your payroll needs on 0419883524 or Request a callback from a qualified Payroll Team member today.

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How is your Credit Record Checked?

You can access your individual ICB credit record by contacting the Irish Credit Bureau 01 2600388 or visit their website www.icb.ie If an individual finds their credit record is inaccurate, they can demand that it be rectified, either by changing the inaccurate details on record, or by adding a note that puts the information into proper context.

A credit record gives a number of different profiles for individual accounts, showing the performance of the borrower in making repayments for each of the previous 24 months. The Payment Profile is the key indicator of performance. It also shows arrears that have built up at different stages of the credit agreement period. Financial Institutions pay particular attention to the Payment Profile and Balance amount when considering applications for credit.

An individual enters into a credit agreement when applying for a mortgage, personal loan, leasing contract or higher purchase agreement. The ICB ‘Irish Credit Bureau Limited’ was established in 1965 by a number of financial institutions. Where an individual enters a credit agreement with an ICB member, details of the individual’s performance in complying with the terms of the agreement are input to the ICB “credit file” database, which may be accessed by all member institutions of ICB.

Contact Tailored Payroll for all your payroll needs on 0419883524 or Request a callback from a qualified Payroll Team member today.

Employing a Child-minder – What are the Tax implications?

If you are considering hiring a child-minder to look after your children, does this mean you will become an employer and will have to pay the normal payroll employer taxes?

If you employ someone to work as a minder in your own home, then you may be considered as an employer for PAYE purposes. An individual who pays an employee €8 or more a week must register for and operate a payroll for PAYE, USC and PRSI. You would also incur an additional cost in the form of employer’s PRSI contributions.

However you may not need to register for PAYE as an employer if you qualify for the ‘Domestic Employer Scheme’. To qualify you must be an individual, have only one domestic employee, and pay less than €40 per week.

If the children are cared for in the minder’s home, then this would usually be considered to be a business carried on by the minder and you would not be required to register for PAYE and process a payroll in those circumstances.

Contact Tailored Payroll for all your payroll needs on 0419883524 or Request a callback from a qualified Payroll Team member today.