Changes to P35 and P60 forms for 2014

• Employers, agents and payroll practitioners should note that 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.
  • The 2014 P35 L is being revised to reflect this change. The current field for "Medical Insurance paid by Employer" will be amended to "Medical Insurance eligible for tax relief paid by Employer".
  • The 2014 P35LF is also being revised to reflect this change together with three new fields under the "Taxable Benefits" heading. These new fields are required to contain the following details:
    • Total number of employees for whom medical insurance was paid that are included in the Taxable Benefits amount
    • Total medical insurance premium paid that is included in the Taxable Benefits amount
    • Total amount of the Medical Insurance Premium included in the Taxable Benefits that is eligible for Tax Relief at source (TRS)
• A new field "Gross pay for employee PRSI purposes" will also be included on the Employers P35L and P35LT return for 2014 on ROS.
• The "Gross pay for employee PRSI purposes" field will also be included on the P60 for 2014 on ROS.

For further information please contact the Collector General’s Division on 1890 20 30 70 or by email at P35processing@revenue.ie

24 December 2013