Employers – PAYE deadline imminent
ACCA (the Association of Chartered Certified Accountants) reminds businesses today of the annual PAYE return deadline – 19 May 2008.
This year, HM Revenue & Customs is demanding that employers with 50 or more staff must file their 2007 / 2008 Employer Annual Return PAYE forms (P14s and P35s) on-line or face a penalty of £100.
And for those firms with less than 50 employees, the taxman is offering an incentive for this group to file on line by giving them £100 tax free if they submit their return on-line.
Chas Roy-Chowdhury, head of taxation at ACCA, says: “HMRC is driving employers, and also self assessors, to submit forms on-line. By 2010 all employers must file on-line, so it makes sense to start now, especially as HMRC claims this is more safe then using a paper return.”
Roy-Chowdhury adds: “But we wait to see if the system is more robust than last year, when the deadline was extended due to IT system problems.”
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Notes to Editors
1. ACCA is the largest and fastest-growing global professional accountancy body and has 325,606 students and 122,426 members in 170 countries.
2. ACCA experts are available for media comment on all aspects of UK and international accounting, auditing, tax, small business, environmental reporting, corporate governance, business law and public sector finance.
For further information please contact:
Helen Thompson, ACCA Newsroom phone: +44 (0)20 7059 5759 / + 44 (0)7725 498 654 e mail: helen.thompson@accaglobal.com