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Offline Sally  
#1 Posted : 17 October 2014 21:23:46(UTC)
Sally

Rank: Advanced Member

Groups: Registered
Joined: 17/10/2014(UTC)
Posts: 37
Location: Oxfordshire

Thanks: 1 times
Saw this tax discussion forum on Twitter.

See it is fairly new? Who is running it? Is it aimed at tax professionals are taxpayers in general?

With enough users it could certainly be a very handy resource as very few discussion forums for tax professionals in the UK, none I have found certainly, and certainly not free to join one.

Up late sorting some PAYE and RTI issues for one of my clients.

Am I right that the late filing RTI penalties for small employers are going to be enforced by HMRC from 5 October 2014? Seem to remember but maybe as working late my head is just fried!

Night anyone still working late!

Zzzz Zzz

Sally
Sponsor
Offline MadHatter  
#2 Posted : 04 November 2014 21:39:03(UTC)
MadHatter

Rank: Newbie

Groups: Registered
Joined: 04/11/2014(UTC)
Posts: 1
Location: Leeds

Sally,

Here is the short answer to when HMRC are enforcing RTI Penalties:

HM Revenue and Customs (HMRC) is introducing penalties for employers who report their payroll information late from:
•6 October 2014 for employers with 50 or more employees
•6 March 2015 for employers with fewer than 50 employees

When penalties are charged

You can get a penalty if:
•your Full Payment Submission (FPS) was late
•you didn’t send the expected number of FPSs
•you didn’t send an Employer Payment Summary (EPS) when you didn’t pay any employees in a tax month

HMRC won’t charge a penalty if:
•you’re a new employer and you sent your first FPS within 30 days of paying an employee
•it’s your first failure in the tax year to send a report on time (this doesn’t apply to employers with fewer than 50 employees for the tax year 2014 to 2015)

Link to .Gov "What happens if you don't report payroll information on time".

The Penalty rates are:

How much you pay

How much you’re charged depends on how many employees you have.

Monthly penalty rates

1 to 9 employees £100
10 to 49 employees £200
50 to 249 employees £300
250 or more employees £400

Hope that helps...

MadHatter

p.s. RTI is just another way that HMRC will be able to collect disproportionate penalties for small employers trying to keep up with the massive amount of red tape that HMRC and Government pile on year after year.

£100 for employers of 9 or less employees... If is there is just you and a part-time assistant, just say. £100 is going to be a lot more to you thatn a bigger business, right! That is most small employers.

Employing people just got even more risky!

Running payrolls for clients just got a lot more risky, fees for running payrolls could well increase to cover potential risks!
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