Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

From 6th April it became compulsory for employers with less than 50 employees to submit their Employer annual return to HM Revenue & Customs online. It is also compulsory to file starter and leaver forms, and some pension forms online. Any employer who doesn’t submit these forms in a timely manner will be charged a penalty.

The deadline for submitting an Employer annual return online is 19th May 2011. Failure to do so will attract a penalty for late filing, as extra time for submission has been withdrawn by HMRC. In 2010-11, employers who had five employees or less escaped a penalty and could continue to submit paper forms. However, this concession has now been withdrawn. Employers with 50 or more employees are already required to file online, with anyone submitting a paper form being issued with a penalty. The first penalties will be issued for the three months ending 5th April 2011. If employers haven’t made prompt Pay As You Earn payments in 2010, they can expect to receive penalties which will be calculated based on the amounts owing and number of times a late payment has been made.

HMRC is encouraging all employers and individuals to file online, as there are many advantages. However, if you have a small business, you will have to consider the use of appropriate software and the time to complete and submit forms accurately. A low cost online accountancy firm will deal with the submission of all forms to HMRC, while preparing and submitting returns in a timely manner. Outsourcing to a low cost accountants could save your business a fortune in penalty charges.

guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.