P35 Due February 15th 2012
If you employed any staff in 2011 you need to start thinking about submitting a P35 form before February 15th 2012. Employers who don’t submit a P35 return by the deadline could face penalties of up €4,000 and you may also risk a possible tax audit.
The P35 form gives details of all tax deducted from your employees during the year. Specifically it details all Income Tax, Employers and Employees PRSI and the Universal Social Charge. The form should include the names and details of all employees who worked for you during 2011, even those who are no longer working for you. If there is a shortfall in the amount you paid during the year, this will have to be paid along with the P35 Return.
The P35 can be paper filed or filed online via ROS. A common error businesses make with their P35 Return is using the wrong PPS numbers for Employees. If a PPS number is invalid, the P35 Return will be rejected by the Revenue Commissioners so it’s a good idea to check all employees PPS numbers well in advance of the submission date.
As well as submitting the P35 form it’s important to note that as an employer you need to provide a P60 and a Universal Social Charge certificate to all staff who were in your employment on 31 December 2011. Anyone who left before this date does not need a P60 from you.
A P60 is specific to each employee and along with their name and PPS number it will include full details on their Gross pay, PAYE deducted and PRSI paid during 2010. Legally, employees must receive this no later than February 15th 2012.
