Revenue announces new simplified PAYE/PRSI filing arrangements for 70,000 employers
On a phased basis from 1 April next employers whose total PAYE and PRSI payments for the year are €30,000 or less will be able to return their PAYE and PRSI payments on a quarterly, rather than monthly basis as at present.
Under this new arrangement which was announced in the recent Budget the first quarterly return will be due on 14 July this year.
"There is no need for employers to take any action in relation to this change" says Revenue's Collector-General, Gerard Harrahill. "We have identified over 70,000 employers who are eligible to avail of it. On a phased basis, starting in February, we will be contacting each eligible employer to advise them of their new filing arrangements".
"Employers who receive a notification from Revenue regarding the new Quarterly Filing of P30 returns and do not wish to avail of this new arrangement will be able to contact our special 1890 70 70 71 helpline.", said Mr Harahill.
Revenue will also issue a PAYE/PRSI return (form P30) relevant to the new filing arrangement to each eligible employer specifying the due date for the filing and payment.
[Ends 01/02/06]
Additional Information: Implementation Arrangements
The future schedule for submission of PAYE/PRSI returns for eligible employers will be as follows:
| Tax Period | Frequency | File and Pay |
|---|---|---|
| February 2006 | Monthly as usual | Monthly P30 return and payment by 14th March 2006. |
| March 2006 | Monthly as usual | Monthly P30 return and payment by 14th April 2006. (this will be your last monthly payment) |
| April - June 2006 | Quarterly | Quarterly P30 return and payment by 14th July 2006. |
| July - September 2006 | Quarterly | Quarterly P30 return and payment by 14th October 2006. |
| October - December 2006 | Quarterly | A separate Quarterly P30 return is not required for the last quarter of year. payment for the last quarter to be included with P35 by 15th February 2007. |
Filing and payment will continue on a quarterly basis thereafter.
Current Arrangements: Background Information
When is Tax and PRSI paid to the Collector-General?
Under the current arrangements the Total tax deducted and the Total PRSI contributions (the amount deducted from pay plus the amount payable by the employer) must be sent to the Collector-General between 1st and 14th of the next calendar month following the month in which the deductions were made.
Each month a Form P30 Bank Giro/Payslip is issued by the Collector-General on which the Employer's name, address, registration number and the relevant month are computer printed.
Where there is no PAYE/PRSI liability for a particular month, the Form P30 is returned marked Nil.
End of Year Duties
The Form P35 must be returned before 15 February to avoid penalties. This is the form on which the employer declares the overall amount of PAYE/PRSI deducted from his/her employees during the tax year.