HMRC issues 'urgent' PAYE alert

Date: 10th February 2010

Small Business owners in the UK could be among those to be affected by planned changes to the PAYE tax system this spring.

Earlier today (February 10th), HM Revenue and Customs (HMRC) issued an "urgent alert" to employers in regard to "important changes".

Business owners who employ less than 50 members of staff must fill out an online Employer Annual Return form by 19th May in order to avoid receiving a penalty.

HMRC has warned that paper filing is no longer an option for employers and warned that those who send in paper returns could be fined, even if they are ahead of the deadline.

Stephen Banyard, a spokesperson for HMRC, said: "Major changes to PAYE filing and payment are only a matter of weeks away, so employers need to make sure they're well prepared for them.

"We will be writing to affected employers over the coming weeks, so please look out for this information, and take the time to read it."