What is the Revenue Change?
- As of the 1st January 2020 Revenue have withdrawn the P60 document, this means that a P60 will not be available to verify a PAYE customer’s income for 2019.
- The P60 has been replaced by a new Revenue form called “Employment Detail Summary”. A copy of the Employment Detail Summary has been attached for your reference.
How does this impacts your customers?
- PAYE customers will no longer be provided with a P60 document.
- The “Employment Details Summary” replaces the P60 from 2019 onwards and can only be obtained through Revenue’s MyAccount service.
- Customers can obtain a copy of this document by downloading it through the Revenue’s MyAccount service- https://www.ros.ie/myaccount-web/sign_in.html?execution=e1s1
- Customers who do not have a Revenue Online Services account will need to register for one.
- A step by step guide has been provided by Revenue on how to register an account, this is available at the following link- https://www.ros.ie/myaccount-web/register.html?execution=e2s1
How does this impact Applications?
- PAYE customers must provide a P60/ Statement of Earnings to confirm previous earnings history.
- From 2019 onwards the “Employment Detail Summary” which replaces the P60 is an acceptable document to use for this purpose.
- All new mortgage applications submitted from Monday 3rd February must have a 2019 Statement of Earnings attached to the file, no exceptions will be allowed.