13 April 2012

Employers urged to file annual returns on time

Following the end of the 2011/12 tax year, HM Revenue & Customs (HMRC) is reminding employers that they must send in their annual returns on time, or risk facing a series of penalties.

The deadline for submitting Employer Annual Returns to HMRC is 19 May.

The returns, which consist of a P14 for each employee together with a P35 summary sheet, provide information on employees’ tax and national insurance deductions made during the tax year.

Failure to meet the deadline will result in a penalty of £100 per 50 employees for every month (or part month) that a return is outstanding.

Almost all employers are required to file their returns online, with very few exceptions applying.

We can help with all your tax planning needs, including filing your returns on your behalf. Please contact us for further assistance.

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