Employers annual returns deadline approaching
Tax update 02/05/2012
Employers have been reminded that the deadline for sending their
annual returns for the 2011-12 tax year is fast approaching.
The papers need to be sent to HM Revenue & Customs (HMRC)
online by 19 May, or else a fine will be issued.
A penalty of £100 per 50 employees for each month or part month
that the return is outstanding will be imposed on those that miss
Companies who are uncertain whether or not they have sent back
their information should be a little reassured to learn that HMRC
is sending out letters this week to employers who have yet to file
However, there is no time to hang around. Employers need to
register for online filing as a matter of urgency with the HMRC
PAYE Online service. It is not possible to file online without
registering in this manner and employers will have to wait for a
code to be sent through the post once they've completed the initial
process, so leaving things to the last minute is not an option.
The return includes a P14 for each employee and a P35 summary
sheet. Employers will also need to organise a completed P60 form
for their employees by the deadline.
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