2020 release notes
Payback Version 2020.03
New Features
- New PMOD Reconcile report for reconciliation of year end figures
- Revenue>Submit screen now has a new tab called Reconcile
Budget Changes
IMPORTANT: The PRSI Rates from 1 February 2020 have changed. Any version prior to 2020.03 may have incorrect rates for pay dates after 1 February. We were informed of this change by the Department of Welfare on 24 Dec 2019.
PRSI
The Class A employer PRSI threshold will increase from €386 to €395 effective from 1 February 2020. As a result of this change Classes AX and AL will have different thresholds within 2020.
Payback Version 2020.02
(Second Pre-release version)
Bug Fix
Revenue>Submission screen
A run time error 3265 would appear in the submission screen if there were any unprocessed leavers. This has now been fixed.
Payback Version 2020.01
(Pre-release version)
PMOD Changes
- New PMOD PayPeriod element added
Budget Changes
PAYE
There were no PAYE changes for 2020 in the Budget. All PAYE rates stay the same.
PRSI
Employer contributions for Class A and Class H have increased by 0.1% Employer and Employee contributions for all other classes stay the same.
USC
New USC Rates can be found here: https://www.revenue.ie/en/jobs-and-pensions/usc/standard-rates-and-thresholds-of-usc.aspx
| 2015 | Rate | 2016 | Rate | 2017 | Rate | 2018 | Rate | 2019 & 2020 | Rate |
|---|---|---|---|---|---|---|---|---|---|
| On the first €12,012 | 1.5% | On the first €12,012 | 1% | On the first €12,012 | 0.5% | On the first €12,012 | 0.5% | On the first €12,012 | 0.5% |
| On the next €5,564 | 3.5% | On the next €6,656 | 3% | On the next €6,760 | 2.5% | On the next €7,360 | 2% | On the next €7,862 | 2% |
| On the next €52,468 | 7% | On the next €51,376 | 5.5% | On the next €51,272 | 5% | On the next €50,672 | 4.75% | On the next €50,170 | 4.5% |
| On the balance | 8% | On the balance | 8% | On the balance | 8% | On the balance | 8% | On the balance | 8% |
| 2011 & 2012 | 2013 & 2014 | 2015 | 2016 | 2017 |
2018, 2019 & 2020 |
|---|---|---|---|---|---|
| Individual aged 70 years or over. | Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. | Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. | Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. | Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. | Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less. |
| Individuals who hold a full medical card (regardless of age). | Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. | Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. | Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. | Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. | Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less. |
| 2% - on the first €10,036 | 2% - on the first €10,036 | 1.5% - on the first €12,012 | 1% - on the first €12,012 | 0.5% - on the first €12,012 | 0.5% - on the first €12,012 |
| The 4% rate applies to all income over €10,036 | The 4% rate applies to all income over €10,036 | The 3.5% rate applies to all income over €12,012 | The 3% rate applies to all income over €12,012 | The 2.5% rate applies to all income over €12,012 | The 2% rate applies to all income over €12,012 |
Emergency Tax
Like 2019, employees on emergency tax with a PPS Number will not receive any tax credits. They will also only get 4 weeks or one month of standard rate cut off point.