HMRC to begin issuing penalty letters next week

HM Revenue and Customs (HMRC) has confirmed it will begin issuing penalty letters from Tuesday 25 June 2013 to employers who have yet to submit a final Full Payment Submission (FPS) or Employer Payment Summary (EPS) for 2012-13.
 
These penalties for employers that took part in the Real Time Information (RTI) pilot are the equivalent of 2012-13 end-of-year penalty notifications.
 
In order to ensure that employers who took part in the pilot are treated in the same manner as non-pilot employers, penalties were applied from 19 May 2013.
 
Pilot employers that are yet to file returns for the 2012-13 tax year should do so as soon as possible to prevent incurring additional penalties.
 
With the deadline of 19 April 2013 passed for submitting a final FPS, RTI pilot employers should instead submit an Earlier Year Update (EYU) to make their final 2012-13 report.
 
When completing their EPS, employers should ensure they complete and answer the end-of-year declarations and questions.
 
In the event there are any 2012-13 statutory payments to recover, employers should also submit an EPS as the EYU won’t pick up any recovery corrections that need making.
 
HMRC’s full guide on PAYE end-of-year tasks for real time pilot employers outlines what is needed and the deadlines that need to be met.
 
At TaxAssist Accountants we can help employers throughout the year, calculating employees’ net pay and provide you with payslips to pass on to staff.
 
We can calculate the tax and National Insurance deductions and advise you during periods of sickness, paternity or maternity leave. We can also help you to keep track of staff holiday entitlement and can file all the starters and leavers forms on your behalf.
 
If you would like to discuss your options and how we can help adjust to real time reporting then call us today on 0800 0523 555 or complete our online enquiry form and book your free initial consultation.

Date published 20 Jun 2013 | Last updated 20 Jun 2013