IR35 – provisional P35 submission
HMRC have published advice aimed at IR35 ’employers’ completing a form P35. This will be relevant where the managed service company has only provisional figures to calculate the deemed payment for 2008-09.
Previously, in such cases one of the rules stated that a separate covering letter must be completed indicating that the figures included in Question 6 of the P35 were provisional. This requirement has now been removed where the second part of Question 6 is answered ‘yes’. Where provisional figures were entered an amended P35 and balancing payment must be submitted by 31 January 2010.
HMRC will send a reminder in due course but it is important to note that if the figures are not revised by 31 January 2010 the May submission will be considered as final and complete by HMRC.