Revenue eBrief No. 127/17

29 December 2017

Change in Basis of Assessment - Schedule E

Finance Act 2017 amended section 112 of the Taxes Consolidation Act 2017 (Schedule E - Basis of Assessment).

With effect from 1 January 2018, the statutory basis of assessment for most employment income is the actual amount of income received (paid to the employee) i.e. the "receipts basis" of assessment.  In effect, the statutory basis of assessment for Schedule E income is aligned with the operation of PAYE.

Tax and Duty Manual Part 05-01-08 has been published outlining the change.