LATE FILING PENALTIES TO BE DELAYED FOR SMALL EMPLOYERS
Penalties for late filing of Real Time Information (RTI) returns were due to come into effect for all employers from 6 October 2014. However, this now only applies to employers with 50 or more employees. For employers with less than 50 employees, the start date for automatic in-year filing penalties for late submission of an RTI return buy cialis online without prescription will not start until 6 March 2015.
The penalties will still apply as outlined in our previous blog dated 24 February 2014.
To reiterate our commitment to clients, it is our intention to submit payroll details under RTI as promptly as possible, and will continue to do so in the future.
Further information in respect of late filing is available here.
In April 2012 HM Revenue & Customs (HMRC) started a pilot scheme for PAYE - RTI (Real Time Information).
The aim of RTI is to improve the accuracy of PAYE, submitting information electronically to HMRC every time employees are paid, instead of submitting it at the end of the tax year using the P35/P14. P11D’s and P60’s will still be required.
It will be compulsory for most employers to start using the RTI service in April 2013, and all employers must be using the service by October 2013. Using an Employer Alignment Submission to HMRC the following information will be required at set up:
In spite of the scheme being a pilot, there are strong indications that the full scheme will go ahead anyway. Accordingly, GBM Accounts have requested to be a part of the pilot scheme, from November 2012. We will be submitting information from three selected employers who have given us their permission to do so.
For further information please click here.
