Following last week’s announcement that HMRC is to delay the introduction of RTI penalties for small employers, the Finance Act 2009, Schedule 55 (Penalties for failure to make returns) (Appointed Days and Consequential Provision) Order, SI 2014/2395, has now been published.
Following last week’s announcement that HMRC is to delay the introduction of RTI penalties for small employers, the Finance Act 2009, Schedule 55 (Penalties for failure to make returns) (Appointed Days and Consequential Provision) Order, SI 2014/2395, has now been published.
This order appoints 11 September 2014 as the effective date for HMRC’s regulation-making powers to set the quantum of penalties chargeable on employers for the late filing of real-time PAYE information. The order also specifies the dates from which late filing penalties will apply. These are:
6 October 2014 for large employers with more than 50 employees; and
6 March 2015 for small employers with no more than 49 employees.
In addition, the Income Tax (Pay As You Earn) (Amendment No 3) Regulations, SI 2014/2396, have been laid before the House of Commons. These regulations, coming into force on 6 October 2014, set the quantum of the penalties that HMRC will charge employers for the late filing of real-time PAYE information. These range from £100 (for employers with nine or fewer employees) up to £400 (for those with 250 or more employees). Late filing penalties become chargeable from 6 October 2014 for employers with 50 or more employees, and from 6 March 2015 for employers with no more than 49 employees. New real-time information employers will not be liable to a penalty in respect of their first return, provided the return is made within 30 days of the due date, and no penalty will be charged in respect of the first late return in any tax year.
Furthermore, The Social Security (Contributions) (Amendment No 4) Regulations, SI 2014/2397, have been laid before Parliament. These amending regulations remove references to the statutory sick pay percentage threshold scheme, which was abolished with effect from 6 April 2014, and the requirement on employers to report payments of statutory sick pay to HMRC, for the purposes of liability to penalties for late filing of real-time PAYE information which begin to apply from 6 October 2014. The regulations also provide that employers will not be liable to a late-filing penalty in relation to a return of NIC which is deliverable at the same time as the return of income tax information.
Following last week’s announcement that HMRC is to delay the introduction of RTI penalties for small employers, the Finance Act 2009, Schedule 55 (Penalties for failure to make returns) (Appointed Days and Consequential Provision) Order, SI 2014/2395, has now been published.
Following last week’s announcement that HMRC is to delay the introduction of RTI penalties for small employers, the Finance Act 2009, Schedule 55 (Penalties for failure to make returns) (Appointed Days and Consequential Provision) Order, SI 2014/2395, has now been published.
This order appoints 11 September 2014 as the effective date for HMRC’s regulation-making powers to set the quantum of penalties chargeable on employers for the late filing of real-time PAYE information. The order also specifies the dates from which late filing penalties will apply. These are:
6 October 2014 for large employers with more than 50 employees; and
6 March 2015 for small employers with no more than 49 employees.
In addition, the Income Tax (Pay As You Earn) (Amendment No 3) Regulations, SI 2014/2396, have been laid before the House of Commons. These regulations, coming into force on 6 October 2014, set the quantum of the penalties that HMRC will charge employers for the late filing of real-time PAYE information. These range from £100 (for employers with nine or fewer employees) up to £400 (for those with 250 or more employees). Late filing penalties become chargeable from 6 October 2014 for employers with 50 or more employees, and from 6 March 2015 for employers with no more than 49 employees. New real-time information employers will not be liable to a penalty in respect of their first return, provided the return is made within 30 days of the due date, and no penalty will be charged in respect of the first late return in any tax year.
Furthermore, The Social Security (Contributions) (Amendment No 4) Regulations, SI 2014/2397, have been laid before Parliament. These amending regulations remove references to the statutory sick pay percentage threshold scheme, which was abolished with effect from 6 April 2014, and the requirement on employers to report payments of statutory sick pay to HMRC, for the purposes of liability to penalties for late filing of real-time PAYE information which begin to apply from 6 October 2014. The regulations also provide that employers will not be liable to a late-filing penalty in relation to a return of NIC which is deliverable at the same time as the return of income tax information.
