HMRC has announce changes to penalties for late filing of PAYE information that will effect both 2013 and 2014 tax years. Companies not filing their returns could face fixed penalties.
The good news is that these steps are to avoid confusion with the new ‘in-year’ penalty system to be introduced in October 2014. The moral of this story is to not make late submissions!
The penalties were always planned and it is all part of the PAYE real time information system. We make the submissions on our clients behalf using their PAYE and tax office reference numbers.
There is further information available on the HMRC website