Interest will start to run on any 2005/06
PAYE, NIC, student loan and CIS deductions not paid over
by 19 April 2006. We are also aware that HMRC are chasing
in year late payments with phone calls and in some instances
turning up at the employer’s premises demanding
a cheque.
Large employers (those with 250 employees or more) must
pay electronically. Where payment is made electronically,
the deadline is 22 April rather than 19 April. HMRC Employers’ Bulletin
Issue 22 contains more information on payment. Click
on the link below to see the detailed text.
In addition to paying electronically, medium (those
with between 50 and 250 employees) and large employers
are also obliged to file their 2005/06 end of year returns
electronically.
Smaller employers will not be obliged to file electronically
until 2009/10. However to encourage an earlier switch
to online filing small employers are being offered tax-free
incentive of £250 for 2005/06 if they file electronically.
The government is concerned that, in a tiny minority
of cases, there has been exploitation of the incentives
which also applied for 2004/05. As a consequence, they
will be reviewing the end of year returns very carefully
before issuing any incentives for 2005/06.
Internet Link:
To read HMRC guidance go to:
Employers' Bulletin 22
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