The new PAYE changes are set to affect employer annual returns and starter and leaver PAYE forms.

All information for employers of 50 employees or less as of April 2011 need to be sent online to HMRC, this includes;  starter and leaver forms, P45’s,P46’s and pension information.

May 19^th is now the deadline for filing and any that are filed later than this date will receive a penalty. In addition, any that are filed on paper rather than online will now also receive a penalty.

HMRC will also be issuing penalties in two new areas;

• Penalty notices will be issued in April to employers with 50 or more employees who have not filed starter and leaver forms online to HMRC.
• As of May this year penalties are to be sent out for late payment of PAYE, meaning employers will be liable for penalty if they haven’t made payment online or in full from April 2010.

For more information please follow the link below, alternatively please do not hesitate to contact us.

HMRC – Spring PAYE Changes 

As of April 2011 HMRC will be issuing 2010/11 notices and paper returns. They will also include information on penalties detailing the implications of filing and paying late. The penalty issued previously for filing late was £100, now penalties are set to increase over time and as an example if someone is 6 months late they could incur a penalty of up to £1,300.

For more information and a clear breakdown of how penalties may be incurred please follow the link below alternatively please do not hesitate to contact us.

HMRC Self Assessment Penalty Information

We have just launched a VAT calculator on our website which aims to help you with your VAT queries. With VAT rates changing at such a fast rate in recent years the VAT calculator allows for different percentages according to the period being referred to and also allows either net or gross figures to be entered. It’s quick and easy to use and we are hoping it will prove to be a useful addition to our website.