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  • Henry Reeves & Co.

RTI Late Filing Penalties Delayed for SMEs

For PAYE schemes with fewer than 50 employees, HMRC has announced that the start date for automatic in year filing penalties for the late submission of RTI returns will be delayed until 6 March 2015. This is a welcome reprieve for smaller employers. For larger PAYE schemes, that is, those with 50 or more employees, the late filing penalties will commence, as originally planned, on 6 October 2014.

For the smaller employer, the delayed penalty implementation date, will give them more time to change their payroll processes to comply with the requirements of RTI. The date on which the number of employees is to be determined in order to decide when the penalty rules start is 6 October 2014. During September 2014, HMRC sent out electronic generic notification codes to every employer to let them know when the RTI penalties will start for them. If you have any questions regarding RTI, please call us on: Maidstone 01622 756849 or Chatham: 01634 846233.

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