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PAYE Modernisation (P60 and P35) Clarification

PAYE Modernisation (P60 and P35 Replacement) Clarification, Obligations and Useful Guidelines

PAYE Modernisation

P60 replacement

2018 was the final year you could issued your employees with a P60. From January 1st 2019 you must instead implement the P60 replacement called the Employment Details Summary (EDS). Revenue has mad the EDS readily available to employees via their myAccount. The EDS contains all relevant information about an employee’s employment such as USC, PRSI, LPT, Pay summery and Income tax. Similarly to the P60, the EDS acts as a form of income verification ((financial institutions, HSE or County Council). You may also save and print all details from your myAccount. For more on this please visit Revenue’s helpful P60 Replacement page.

Employment Details Summaries will be available to view within MyAccount from the beginning of January, however it is recommended that employees wait until after 15th January 2021 to access these in case their employer submits corrections up until this correction deadline date.

P35 replacement

Similarly, the P35 was replaced on January 1st 2019, but you still must report payroll information to Revenue at the time you pay your employees. How this is done is with the Revenue Payroll Notification (RPN). It is important that you are using the correct credits and cut-off point for your employees. The P35 was the annual return that is completed by all registered employers after the tax year end. This form held such details as Pay As You Earn (PAYE), Pay Related Social Insurance (PRSI), Universal Social Charge (USC) and the Local Property Tax (LPT). But as previously stated, the P35 has been replaces as of January 1st 2019 in accordance to PAYE Modernisation.

For more details on employer obligations are found here.


For more related to P60 & P35 PAYE Modernisation read:

Confessions to the Small Benefit Exemption Scheme

Deductions When Calculating Employee Net Pay

Tax Free Childcare UK Employers

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