Revenue has issued changes to P35 and P60 Forms for 2014. These revisions have come about due to measures from the Budget 2014,
in relation to medical insurance eligible for tax relief. New limits have been introduced on the “relievable” amount of medical insurance premiums for policies which are renewed or entered into on or after 16 October 2013. A new field “Gross pay for employee PRSI purposes” will also be included on the Employers P35L and P35LT return and on the P60 on ROS for 2014. Stumbling upon these changes close to the return deadline is not ideal. That’s why we’re issuing you this reminder. See, we like to look after our Customers. The annual P35 returns for the year ended 31 December 2013 are due by 15/23 February. In addition, employees are also due to be provided with P60s from 2013 by these dates.
Additional information from Revenue regarding the changes to P35 and P60 forms can be found here. There is also a very handy calendar of key accounting dates on their website but here at the Big Red Cloud we will do our best to keep you covered in advance. We also offer payroll software that can make life even easier for you check it out Big Red Bookhere. Happy New Year and we hope the returns go smoothly so that you can focus on getting the most out of your business in 2014.