Firms urged to submit Employer Annual Returns before
deadline
HM Revenue and Customs has issued a reminder to employers across
the country about Employer Annual Returns.
The taxation body has urged employers to file their P35s and
P14s - the Employer Annual Returns – before 19 May. HMRC has warned
that companies failing to do so will face a penalty.
The returns must be filed online following changes that came
into effect earlier this year, which mean that any returns filed on
paper could land the firm with a penalty. In previous years, no
penalty was levied for very small firms with under five employees
who filed the return on paper rather than online.
The changes also removed an extra-statutory concession which
previously allowed companies a little extra time to file the
returns after the May deadline had passed.
The removal of this concession now means that any Employer
Annual Returns sent to HMRC after the May deadline has passed will
likely result in a late-filing penalty.
Small firms can file their Employer Annual Returns online with
the help of HMRC’s ‘Online Return and Forms – PAYE’ product. Larger
firms will need to purchase commercial software with which to file
the returns.