SLATERS CHARTERED ACCOUNTANTS

162A London Road
 Chesterton
Newcastle Under Lyme
Staffordshire
ST5 7JB
Tel: 01782 566101 Fax: 01782 566090

Employers...the form-filling starts here

If you are an employer the end of the tax year marks the start of the form-filling season! Here’s a reminder of important deadlines for sending information (and money!) to HMRC.
19 April 2008 - Interest will run on any 2007/08 PAYE, NIC, student loan and CIS deductions not paid over by this date (22nd for electronic payments).

19 May 2008 - Employers’ year end returns (P35 and P14s) due for submission.

31 May 2008 - Employees must be provided with their P60 (certificate of pay and tax deducted).

6 July 2008 - Submission of P11Ds and P9Ds which show details of expenses paid and benefits provided to employees and directors. There is a penalty for submission of late or incorrect returns. Employees must also be given a copy of their P11D/P9D by this date.

19 July 2008 - Class 1A NIC for 2007/08 on most benefits in kind provided to employees must be paid. Interest runs from this date on late payments.

19 October 2008 (22nd for electronic payments) - PAYE settlement agreement liabilities for 2007/08 are due, together with Class 1B NIC. Interest runs from this date on late payments.

Electronic filing and payment

All employers with at least 50 employees must file their end of year returns electronically. Employers with fewer than 50 employees do not have to start online filing until 2009/10 but there are tax-free incentives for early take up. Large employers (those with at least 250 employees) must also pay their PAYE electronically.

Talk to us if you are interested in using a PAYE settlement agreement to account for the tax due on minor employee benefits. It can reduce administrative hassle and save time!




 

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