29.07.2014

RTI Returns and Late Filing Penalties

RTI Returns and Late Filing Penalties

twitter icon

HMRC have been pretty lenient during the phasing-in of Real Time Information (RTI) reporting. The requirement to report payments to employees in real time (i.e. on or before the actual pay day) became full operational for all employers from April 2013. However, to allow employers to get used to the new systems, Inland Revenue have, so far, not imposed any penalties for late filing - that is all about to change! The following statement is taken from the HMRC website:

"New late filing penalties will apply to returns due from employers for the tax year 2014-15 onwards. Having listened to customer feedback, HMRC is deferring the start of these penalties to give HMRC and employers more time to adapt to reporting in real time. They will now start from 6 October 2014. To avoid late filing penalties, you must make sure all submissions due are fully up to date by 5 October 2014."

So, time is running short to get your house in order. Have you got systems in place to ensure that everything is up-to-date by 5th October and that all future returns can be made in a timely fashion? If not, now would be a good time to consult a Payroll Professional for advice - you may well find that it actually saves you mioney by avoiding penalties.

Married for 41 years to the wonderful Sheila. 5 Children (4 girls and 1 boy) and 7 fabulous grandchildren. I am a Christian and am currently churchwarden at St Peter’s Church, Rock Ferry. I love the…

Follow us for more articles and posts direct from professionals on      
  Report
Employment & HR

The Benefits of Walking: A Simple Step Towards Better Health

The Benefits of Walking: A Simple Step Towards Better Health Walking is one of the simplest and most accessible forms…
Information Technology

Unlock Your Business Potential with Our IT & Technology...

Unlock Your Business Potential with Our IT & Technology SolutionsHello I hope you're doing well!My name is Allan Smith,…

More Articles

Employment & HR

Occupational Health Support to SMEs

Everwell does not just support larger companies, we do also have a dedicated team supporting SME clients employing…
Health & Medical

Everwell Expands Capacity to Meet Growing Demand for...

We are thrilled to announce that Everwell has expanded its team and increased capacity to better serve our clients. As…
Employment & HR

Ensuring a Healthy School Environment: The Importance of...

Ensuring a Healthy School Environment: The Importance of Occupational Health Assessments The school environment is a…

Would you like to promote an article ?

Post articles and opinions on Manchester Professionals to attract new clients and referrals. Feature in newsletters.
Join for free today and upload your articles for new contacts to read and enquire further.