News

HMRC Late Filing Penalties – RTi

Real Time Information & Paying your Staff Wages

Beware of late filing penalties and interest on late payment of PAYE and NI contributions.

HMRC are tightening up on receiving these submissions on time and the “Holiday” is over, penalites are now being given.

When Penalties are charged and when you can get one:

  • 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:

  • your FPS is late but all reported payments on the FPS are within 3 days of your employees’ payday (this applies from 6 March 2015 to 5 April 2017) however employers who persistently file after the payment date but within 3 days may be contacted or considered for a penalty
  • 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 who register with HMRC as an annual scheme

The penalties are not small and we are concerned that our clients take this seriously so that they don’t get penalised unnecessarily. Please contact us if you have any concerns so we can discuss with you how to overcome any problems.

 

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