Free Accounts Software for All Small Businesses
You can now download TAS Basics for FREE. It’s the complete working program and there’s no charge, no obligation and no time limit. Get it now!

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'.

Posted May 11, 2006

Latest articles in Business Tax
 
Annual Investment Allowance limit reduction from April 2012 - what should businesses do?
George Osborne's Emergency Budget gave notice that the Annual Investment Allowance (AIA) annual limit is to be significantly reduced from April 2012. What should businesses do to plan in advance? [August 12, 2010]
 
Accountant provides clarification on how dividends are taxed
A small business accountant provides some clarification on the amount of tax payable by shareholders when dividends are paid, particularly, by private companies. [July 14, 2010]
 
Tax strategies to consider in a high tax environment
The era of the Additional Rate Tax has begun. Partners and the self employed, in fact all non-PAYE earners, who clock up income over £150,000 during the 2010/11 fiscal year will be hoping that the new 50% rate will go away, but it won’t and it is no use burying our heads in the sand. [April 26, 2010]
 
Annual Investment Allowance - how does it work?
One of the few increases in tax allowances disclosed in the Budget last month was a doubling of the Annual Investment Allowance, from £50,000 to £100,000. So, how does the AID work in practice? [April 16, 2010]
 
Business rate changes from October 2010
One of the key announcements from Budget 2010 was in a 'freeze' in business rates for some small companies from October 2010 - so which businesses will benefit, and by how much? [March 26, 2010]
 
Tax tips for entrepreneurs to address before 6th April 2010
Business advisors at Deloitte are urging entrepreneurial businesses to make final reviews of their tax position to ensure their financial house is in order before the start of the next tax year. [March 22, 2010]
 
Declaring dividend payments before 50% tax rate start date
The approaching commencement of the 50% tax rate and the phased withdrawal of personal allowances for those with income between £100,000 and £112,950 are leading those affected to consider tax planning to find potential ways to reduce the increasing tax burden. [March 18, 2010]
 
How long should small businesses keep tax records for?
A new guide has been produced explaining which tax records small businesses (including the self employed and limited companies) should keep, and for how long. [February 25, 2010]
 
Tax relief and Christmas entertainment
We look at how staff parties are treated for tax purposes by HMRC, and what you should bear in mind when an employer provides an employee with seasonal gifts. [December 4, 2009]
 
Paying private bills through your company
You need to be aware of the tax consequences of paying for personal bills via your business - the rules differ depending on whether you are trading as a sole trader, or as a limited company. [November 16, 2009]
 
Guide to Business Rates
This simple guide will help you understand what business rates you might have to pay, how to challenge the rates set, and even if you can claim any relief. [October 29, 2009]
 
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]
 






Click Here





Our Partners
Key Services
Key Services
Useful Guides