This month, our regular newsletter, eNews, contains three features highlighting the way PAYE is being moved increasingly online and these are copied below.
The three articles we have featured cover:
- online payments of PAYE.
- finding information previously supplied on the PAYE CD ROM.
- filing the year end returns P35 and P14’s.
1. Take care with Electronic PAYE payment dates
According to HMRC many employers have taken advantage of the electronic payment option which generally gives a later payment date of 22nd of the month. However HMRC are stressing that where the 22nd falls on a non banking day (a weekend or Bank Holiday) the payment may need to be made earlier to ensure that HMRC has cleared funds by the due date. HMRC need to have received cleared funds by the last bank working day before the 22nd.
According to the HMRC employer diary the next time the 22nd is due to fall on a non banking day is in May 2011. Their diary states that cleared funds must reach HMRC’s bank account by Friday 20th May 2011.
It appears that HMRC have forgotten about Easter Good Friday which falls this year on Friday 22nd April 2011. As this is the last payment date for 2010/11 PAYE it is important that the cleared payment is received into HMRC’s bank account by Thursday 21st April 2011.
HMRC may issue penalties to any employer who makes late payments of PAYE more than once for 2010/11. These penalty notices will not be issued until after the end of the tax year.
2. HMRC PAYE CD-ROM
Employers that are used to finding necessary PAYE information on the Employer CD-ROM should be aware that this will not be issued this year. HMRC are replacing the CD-ROM with a set of tools which can be downloaded from HMRC’s website.
HMRC are advising those wishing to use the tools that they need to download the updates to the CD-ROM first. These are available on the HMRC website.
3. Employer filing deadline P35 and P14s
HMRC are reminding employers that, in order to avoid penalties, they must file the Employer Annual Return (P35 and P14s) online. The deadline for submission is 19 May 2011. The Extra Statutory Concession B46 which allowed a weeks ‘grace’ in submitting the returns no longer applies for this year as the majority of returns must be submitted online.
To avoid unnecessary late filing penalty notices being issued, where no return is necessary it is important to advise HMRC.
To see our full monthly eNews click on the eNews tab.