FREE Business banking forever
With Abbey you can enjoy free day-to-day business banking, forever! Call us now on 0800 085 3099 or click here to find out how.

Get £250 for filing your PAYE Return online by 19th May Deadline

print  e-mail 

HM Revenue & Customs (HMRC) is reminding employers that they must file their Employer's Annual Return by 19 May 2006, and can do so online.

Employers with 50 or more employees must file their Return online, or face a penalty.

While employers with fewer than 50 employees do not have to file online, they get £250 tax-free from HMRC if they do so, and still qualify for the tax-free payment if an agent or bureau files online for them.

This year HMRC's online Returns service will be applying quality checks to all Returns, and rejecting those with errors. The submitter will receive a message almost immediately after submission if their Return is rejected, explaining why. If this happens, they must correct and resend the Return without delay, no later than 19 May to avoid a penalty notice.

Don Macarthur, HMRC's Employer Programme Director, said: "Filing online is secure and convenient. I would strongly encourage employers to check their returns for common errors. There's a checklist available at http://www.hmrc.gov.uk/commonerrors. The most common mistake is not getting the Employer's PAYE Reference right.

"Employers should file as early as they can to leave extra time for any corrections, and they may find things a little smoother if they avoid peak times, especially 17-19 May, and office hours. Or, if their software lets them send the Return overnight."

Employers required to file their Return online must first register by visiting http://www.hmrc.gov.uk, clicking on 'PAYE for Employers', and then selecting 'Register'.

For essential tax updates, subscribe to our small business newsletter.

Posted May 11, 2006

Latest articles in Business Tax
 
How to make the most out of trading loss relief
Under concessions offered in the Finance Bill 2009, trading losses for businesses can now be carried back up to a maximum of three years. How the rules work. [October 13, 2009]
 
Claiming travel expenses from home to work - the rules
Whether you are a limited company director, or a sole trader, this article looks out how expense claims for home to work travel are treated by HMRC. [October 9, 2009]
 
How to manage Corporation Tax during a recession
Here are some useful tips to help small businesses manage their corporation tax liabilities during the downturn. [September 18, 2009]
 
How to register your company for corporation tax
One of your first duties as a limited company director is to register your company to pay Corporation Tax. How the registration process works, including which forms you need to complete. [August 5, 2009]
 
Tips to run your business finances efficiently
An unbelievable amount of money is thrown away every year by small businesses, simply because they are not running their finances efficiently. Here are some useful tips that if not applied, at best cost you and your business money, and at worst can cause your company to crash and burn. [July 20, 2009]
 
Annual PAYE and NIC tax deadlines for small businesses
The key small business tax accounting deadline dates - including information on National Insurance contributions (NICs), PAYE and self-assessment tax returns. [June 2, 2009]
 
Guide to National Insurance and NICs for small businesses
National Insurance guide for self employed people and limited company directors. Includes overview of the NIC classes, and current rates. [June 1, 2009]
 
PAYE - Overview of Pay as You Earn scheme
An overview of PAYE (Pay as You Earn) - the familiar scheme operated by HM Revenue & Customs to take income tax from employees as they earn it [June 1, 2009]
 
Corporation Tax - What it is and how it applies to your company
Corporation Tax is essentially a tax on your company’s profits. You have to work out your own tax liability, pay that tax, and ensure you deliver all required information to HMRC on time. [May 21, 2009]
 
Guide to new HMRC tax penalties regime from April 2009
A new, tough, HMRC penalty regime came into play on 1st April 2009. Individuals and business owners can now face penalties of up to 100% for deliberately underpaying tax. An overview of how the new rules work, and what to expect if you get things wrong. [April 3, 2009]
 
P35 Employer Annual Return - file online and collect a £75 cash reward
HMRC is urging small business employers to file their 2008/9 Employer Annual Returns online this year, and is providing the incentive of a modest cash bonus. [April 1, 2009]
 
2009 tax planning check list if you're trading at a loss
If you are self employed and have recently experienced a profit drop, or are trading at a loss, you should carefully consider your current trading position and ensure you maintain a healthy cash flow. Some tax and accounting tips to help ensure a favourable tax position. [February 6, 2009]
 
Rewarding staff with bonus shares - Tax implications
With many small businesses struggling to meet existing commitments, many employers will be thinking of alternatives to paying out any cash bonuses to staff this year. This article looks at how gifting shares could be a sensible alternative, along with the legal and tax implications of doing so. [January 8, 2009]
 
Guide to the main HMRC payroll forms for small businesses
Our summary of some of the key HMRC forms companies will get to know after setting up a new business. Including Forms P45, P60, P11D, P35 and Self Assessment. [October 30, 2008]
 
Sole trader self assessment tax guide
A guide to sole trader taxation; what you have to pay tax on, how much tax you should pay, and how to make the self assessment process easier. [October 23, 2008]
 













Our Partners
Key Services
Useful Guides