Employers should be aware of PAYE late filing penalties

Employers who have still to submit their end-of-year payroll returns to HMRC will shortly receive a letter warning them of the penalties for late filing.

The deadline for online submission of the Employer Annual Returns, detailing employees’ national insurance and tax deductions, is the 19th of May. Companies that miss the deadline will face a penalty of £100 for each 50 employees they have for every month, or part of a month, that the return remains unfiled.

Every employer must file a P14 for each member of staff, as well as a P35 summary form. These have to be filed through the Revenue’s online system. The only people who are exempt from online filing are those who object on religious grounds and individuals who have their own carer.

If an employer has not yet signed up for online filing, they need to register quickly in order to be able to use the Revenue PAYE Online service. As with all HMRC online services, registration is easy but you then have to wait for an activation code to arrive through the post before you can use the service.

Business owners who are unsure of the correct procedures may want to contact their accountant for help as a matter of extreme urgency before they start to accrue penalty charges for late filing.

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