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Employers urged to prepare for PAYE changes
Employers are being urged to ensure that they are ready for forthcoming changes to the PAYE system.
Under the changes, from this year all employers and contractors must file their Employer Annual Returns online by the 19 May deadline.
This includes small businesses with fewer than 50 staff, which until now still had the option of filing a paper return.
The new regime is being accompanied by a new set of penalties for late or incomplete payment of PAYE, which includes income tax, national insurance contributions, student loan deductions, and deductions made under the Construction Industry Scheme.
The penalties will be calculated as a percentage of the amount paid late, and for in-year payments the percentage charged increases as the number of late payments in the year increases.
We can help with all your tax planning needs, including filing your tax returns on your behalf. Please contact us for further assistance.