HB Accountants

February

Not Worth The Paper Its Written On!

HM Revenue & Customs has sent an urgent alert to employers regarding PAYE payments moving online.

The taxman has terminated all paper submissions of Employer Annual Returns for small employers with fewer than 50 staff this year.

The statement by HMRC said anyone in this category sending in paper submissions will be fined a late penalty charge even if it is sent in before the deadline date, 19 May.

This May will also see HMRC introduce new penalties for late payment of PAYE with the fine now calculated as a percentage of the amount paid late rather than a fixed amount. The percentage charged increases as the number of late payments in the year increases.

For further advice, please do not hesitate to contact Elizabeth Maidment on 01992 444466 or elizabeth@hbaccountants.co.uk.
 

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