Tax & Accounting News

Warning over late return of PAYE forms

07/05/2010

Businesses are being warned they face a fine of up to £3,000 if they do not file their 2009/10 PAYE returns online by 19 May.

Most employers are now required to file their Employer Annual Return – forms P35 and P14 – electronically. Firms with more than 50 employees have had to do so since 2006, with the rule extended to ‘almost all’ firms from this year.

The only exemptions now are some domestic employees and practising members of religious societies whose beliefs are incompatible with electronic communications. It has also been reported that HMRC is generally not fining firms with less than five employees this year and is instead issuing advice, although this is not an official policy.

HM Revenue and Customs (HMRC) this month reiterated its warning that anyone submitting their return using ‘paper or magnetic media’ where electronic filing was required would face a fine, even if they subsequently completed an electronic form.

The exact level of the fine depends on the number of employees within the company, up to a maximum of £3,000.

Anyone who does not need to make a 2009/10 return still needs to inform HMRC of this, either online, over the telephone or in writing.

For more information about completing Employer Annual Returns, please contact us.

 

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