Late Returns are Better Than Later, HMRC Warns
Employers who missed the 19 May deadline for submitting their 2011-12 annual return face even higher penalties if they don’t act now.
That’s the stark message from HMRC, which is writing to employers across the country this week, warning them that penalties for missing the May deadline for Employer Annual Returns (EAR) will rocket if a late return is received after 19 June.
HMRC says that because EARs contain important information on employees’ tax and National Insurance deductions during the tax year, any delays in returning them can create additional work for employers, employees and the taxman.
Even when an employer has no return to make, they need to tell HMRC as failure to do so can lead to a penalty.
Penalties are charged at a rate of £100 per 50 employees per month, or part month, that a return is late.
Help and advice on filing a return is available from HMRC via its Employers Helpline on 08457 143 143 or at HMRC