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Outsourced Payroll Services at TriproTriPro was formed with the principal aim of providing outsourced business solutions to Irish business employers and professional advisors.TriPro provides outsourced payroll services to businesses of all sizes, in all industry sectors. We at TriPro understand that payroll can be a complex component of any business structure and thus outsourcing your payroll function to us ensures compliance with the relevant legislation. Our model is simple, you provide us with the data and we process your payroll ensuring that employees are paid accurately, on time, every time. Our payroll specialists who deliver the managed payroll service are dedicated to ensuring all accounting elements of your business are managed to highest Irish payroll standards. This includes everything from day to day management accounting to support regarding employee benefits, resulting in reduced stress for you and reduced costs for your business.

Key Benefits of the Service

As part of our payroll services we offer bespoke packages tailored to suit the needs and requirements of your company.We cater for all company sizes, from small to large, in all industries sectors and can tailor the payroll package to suit your requirements. It’s a simple process to commence, just provide us with the necessary employee information and let us do the rest!The key features of our payroll service include:

  • Preparation of weekly, fortnightly, 4 – weekly and monthly payment schedules
  • Computation of all payroll requirements, i.e. hourly rates, daily rates, basic salary and commission
  • Calculation of PAYE, PRSI, USC and other statutory and non-statutory deductions
  • Calculation of annual leave and public holiday entitlements
  • Calculation of Benefit-In-Kind, Additions & Deductions (E.G. Bonus, Expenses, Commission, Pension)
  • Provision of pay slips directly to employees
  • Electronic payment of salaries to employee’s bank account
  • Liaise with Revenue to obtain employee tax credit certificates
  • Registration of new starters and processing of P45 for leavers
  • Provision of P60 for all employees
  • Provision of customised reports for the company’s Accounts Department
  • Ensuring compliance with Revenue, can file P30’s and P35 through ROS if requested
  • Support to assist with employee pay and tax queries
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What rate of income tax will apply to my income?
Income tax is charged on employment income arising in Ireland. The standard rate of tax is 20% and the higher rate of tax is 40%. The tax rate applicable to your income will depend on your circumstances and the standard rate cut-off point (SRCOP) and tax credits that Revenue issue to you. The SRCOP is €33,800 for a single person and for €67,600 for a married couple/civil partners with two incomes for 2017.

What are tax credits?
Tax credits are used by employees to reduce their tax liability. Tax credits are deducted after your tax has been calculated. Each employee is entitled to an annual personal tax credit of €1,650 and most employees will be entitled to the PAYE (pay as you earn) tax credit of €1,650 also. However there are some exceptions to who can claim the PAYE tax credit. Additional tax credits may apply depending on your circumstances. Tax credits are not refundable.

What is a tax credit certificate?
A tax credit certificate is a certificate issued by Revenue to an employer in respect of each employee which states the annual, monthly and weekly tax credits and SRCOP allocated to that employment for PAYE and USC purposes. It also confirms whether or not PAYE should be operated on a Cumulative or Week 1 Basis. Employees are also issued with a copy of their tax credit certificate from Revenue.

What Rate of Income tax is calculated?
The amount of tax you pay depends on the amount of your income. The standard rate tax is 20% and the amount that this applies t is known as the standard rate of tax band. The rest of your income is taxed at 40%, known as the higher rate of tax. The tax rate applicable to your income will depend on your circumstances, tax credits and the standard rate-cut off point. The standard rate cut off point is the amount you can earn before you start to pay the higher rate of tax. The standard rate cut off point is €33,800 for a single person and €67,600 for a married couple/civil partners with two incomes for 2017

Other Services offered by Tripro

TriPro specialises in the outsourced service areas of Company Formations, Company Secretarial Services, HR Support and Payroll Services for Irish businesses. Our outsourced teams work closely with you from our registered office facility to deliver all aspects of human resources, company formations and all compliance services so you have more time to manage your core business.

Contact Tripro today for more info on how we can help you.

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