HMRC have published a huge amount of guidance
on end of year filing of employers’ returns.
Employers with 50 or more employees will have
to file electronically this year or face automatic
penalties of between £600 and £3000.
Smaller employers will again be chasing the £250
tax free incentive payment which is available
where they successfully file electronically.
HMRC advise that they
will be applying the full list of checks
to the information supplied by employers,
whether this is submitted by the agent
or employer, either electronically or on
paper. Last year, due to the failure
of HMRC’s computer, only a few checks
were actually applied. This year any
errors will result in the returns being rejected
by HMRC. The forms will have to be amended
and resubmitted by the filing deadline of
19 May 2006 to avoid penalties.
HMRC have also warned that they will be
checking that any returns submitted are necessary
before they issue incentive payments this
year, which may cause further delays in receiving
the £250 incentive payment.
Internet links:
HMRC online filing guide
HMRC penalties
HMRC guidance on tax free incentive payments
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