Employers P35 Return

If you’re an accountant, February 14th isn’t all about flowers and chocolates. It’s an important day for Employers because it’s the last day before the deadline (15th February) for the submission and payment of the 2010 P35 Returns to the Revenue Commissioners.

What is a P35?

A P35 Return is the annual summary of all amounts (Income Tax, Employers and Employees PRSI together with the Income Levy) payable by an Employer to the Revenue Commissioners for the 2010 tax year. These are listed by Employee and the total amount on the P35 Return should equal the sum of the P30 Returns submitted during 2010. Any shortfall in the amount paid during the year is to be paid with the P35 Return. The P35 return also gives the Revenue the required information about each individual employee and will correspond with the P60 form, together with the Income Levy Cert that is issued to each employee at this time.

The P35 Return can be submitted in paper format or electronically via ROS. In order to avail of the electronic submission facility, you must be registered with your accountant as a ROS client. Registration is straightforward and can be done very quickly. We recommend electronic submission of the P35 return, and all other Revenue tax forms, as it ensures you beat the deadline and there are no issues with delays in the post etc. A late submission of a P35 Return will automatically result in a fine.

The most common mistake relating to the failure to submit a correct P35 Return is the use of incorrect PPS numbers for Employees. If a PPS number is invalid, the P35 Return will be rejected by ROS so it’s a good idea to check all employees PPS numbers well in advance of the submission date.

As always, if you have any other queries re the submission of your p35 Return, please don’t hesitate to contact the office.