HM Revenue and Customs (HMRC) have now started issuing financial penalties to all employers and companies that do not register for PAYE and report their payroll information to HMRC in real time.
For late or non-reporting of payroll information there is now a monthly penalty of £100. Even small, owner-managed companies that only pay their one company director need to send payroll reports to HMRC. Payroll reports need to be sent to HMRC every month, regardless of whether or not any employees were paid.
If you register for PAYE now, you will not be penalised for late registration as long as you start sending the required payroll reports in real time.
If you would like to know more about HM Revenue & Customs’ payroll reporting requirements and the complete payroll compliance service that I offer all companies and employers from just £195 a year, then ring or email me using the contact details below.
William Denham
Denham Accounting & Tax
Email: office@denhamaccountingandtax.com
Telephone: 07921 490 690
Manchester based accountant that provides cost-efficient accountancy services to limited companies, individuals and businesses. Annual fees including payroll begin at just £520 for a limited company…
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