Payroll
Running payroll accurately and on time is a critical obligation for any employer in Ireland. Place Finance Services manages the full payroll process for sole traders and SMEs — from calculating pay and deductions to submitting returns to Revenue — so your employees are paid correctly and your business stays compliant.
Why Outsource Your Payroll?
Since the introduction of PAYE Modernisation in 2019, Irish employers are required to report payroll information to Revenue in real time — every time a payment is made to an employee. This means errors or delays are immediately visible to Revenue and can result in penalties.
Payroll involves far more than calculating a wage. PAYE, PRSI, USC, and pension contributions all need to be calculated correctly for each employee, every pay period. Getting this wrong — even unintentionally — can lead to underpayments, overpayments, and Revenue compliance issues.
Outsourcing to Place Finance Services removes this burden entirely. Your payroll is processed accurately, on schedule, and reported to Revenue without you having to manage the detail.
Our payroll services include:
Weekly, fortnightly, and monthly payroll processing
Calculation of PAYE, PRSI, and USC for each employee
Real-time reporting to Revenue via the Payroll Submission Request (PSR)
Payslip preparation and distribution
New employee and leaver processing
Employer PRSI calculation and reporting
End-of-year payroll reconciliation
Our Approach
Based in Wicklow, Place Finance Services works with employers across Ireland both remotely and in person. Each pay period, your payroll is processed and submitted to Revenue on time — with payslips issued and records maintained — so there is nothing for you to chase or worry about.
Frequently Asked Questions
What is PAYE Modernisation and how does it affect my business?
PAYE Modernisation, introduced in January 2019, requires all Irish employers to report payroll details to Revenue each time employees are paid — rather than at year end. This real-time reporting system means Revenue has up-to-date visibility of all payroll activity. Place Finance Services manages this reporting on your behalf, ensuring every submission is accurate and on time.
What deductions need to be made from an employee's pay?
Irish employers are required to deduct PAYE (income tax), PRSI (Pay Related Social Insurance), and USC (Universal Social Charge) from employee wages before payment. The correct amounts depend on each employee's tax credits, earnings, and PRSI class. Place Finance Services calculates all deductions accurately for every employee, every pay period.
I am taking on my first employee. What do I need to do?
Before paying a new employee, you must register as an employer with Revenue and ensure the employee's tax credits are correctly set up. From the first payment, real-time payroll reporting applies. Place Finance Services can handle the full setup process — employer registration, employee onboarding, and ongoing payroll management — so everything is in place from day one.
What happens if payroll is processed incorrectly?
Payroll errors can result in underpayment or overpayment of employees, incorrect tax deductions, and Revenue compliance issues. Under PAYE Modernisation, errors are reported in real time, making them more difficult to correct retrospectively. Place Finance Services processes payroll with care and accuracy, reducing the risk of errors and ensuring any issues are identified and resolved promptly.
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