How should "end of year" returns (e.g. P14, P60 and P35) be completed? Should the P60 show deemed emoluments or actual salary? (The P60 may enable the employee to obtain a loan/mortgage at 3 x "salary", when of course this is actually just "deemed" and not deemed "actual"!)
The deemed salary, and the tax and NIC deducted, should be included in the figures shown on all HMRC end of year returns and so will be reflected in the P60 given to the employee. In addition, there will be a box to tick on the P35 to indicate that an IR35 deemed payment is included in the figures.
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