HMRC to Issue Payroll Late Filing Penalties from October 2014

Penalties for the new RTI (Real Time Information) payroll scheme will be introduced from October 2014, so it is essential that RTI returns are sent in to HMRC on time.

Penalties will be issued by HMRC if a submission is not made either on or before the date that you pay your employees.

The late filing penalty you will receive is based on the number of employees within your PAYE scheme shown in the table below: 

Number of Employee’s	Monthly Penalty
1 to 9	£100
10 to 49	£200
50 to 249	£300
250 or more	£400

As part of our payroll service we make sure that all submissions are made to HMRC on time (as we have done since RTI started in April 2013), so there is no need to worry.

However If you currently manage your own payroll please get in touch to discuss how we can help run your PAYE scheme and remove some of the stress from being an employer.

www.ktcselby.co.uk