RTI for small employers

Please can you explain what the change was with regards to RTI and late filing penalties? I’m getting confused!

1st October 2014

In-year late filing penalties were due to apply from 6th October 2014 where:

  • a Full Payment Submission (FPS) has not been filed on or before the date employees were paid; or
  • HMRC had not received the expected number of submissions

However, HMRC have announced that automated in-year penalties for late real-time PAYE returns for employers with fewer than 50 employees will be delayed until 6th March next year.

Those who employ 50 or more people will face penalties from 6th October 2014 as planned.

HMRC will send electronic messages to all employers shortly to let them know when the penalties will apply to them, based on the number of employees shown in HMRC’s records.

Please be clear, separate and additional penalty regimes already exists for inaccurate returns or late payments, which will simply continue.

If you’re concerned that you aren’t keeping on top of your payroll and filing requirements, please feel free to contact your local TaxAssist Accountant who would be happy to discuss looking after your affairs for you.

By Jo Nockels

Disclaimer: The information provided is based on current guidance (at date of publication) from HMRC and may be subject to change. Any advice shared here is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this information, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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