With the 2011/12 tax year now ended on 5th April 2012, employers across the country are reminded to send in their annual returns on time, or face a penalty.
Employer Annual Return Forms (previously called Form P35), which provide information on employees’ tax and national insurance deductions during the tax year, must be sent online to HM Revenue & Customs (HMRC) by the 19th May deadline. Almost all employers must file these returns online. Paper returns must not be sent to HMRC.
If you file the return late, the penalty is £100 per 50 employees for each month, or part month, that the return is outstanding.
Employers who are not registered for online filing need to sign up now for HMRC’s PAYE Online service. The registration process takes a few minutes, but you won’t be able file online until you have activated the service using a code that HMRC sends you by post. This can take up to a week to arrive – so don’t leave registration until the last minute. I can certainly help you to register you for HMRC’s online service so please contact me at your earliest convenience.
HMRC has published a list of common errors to avoid on its website at www.hmrc.gov.uk/paye/payroll/year-end/errors.htm.