HMRC have now published their intentions to fine employers for late Real Time Information (RTI) submissions.

If a submission appears to not be filed by the due date for either an FPS (Full Payment Summary) or an EPS (Employer Payment Summary) a late filing penalty will be imposed.

The amount depend on the number of employees your business employs.

  •  Employers with 1 to 9 employees the penalty will be £100 per month
  • Employers with 10 to 49 employees the penalty will be £200 per month
  • Employers with 50 to 249 employees the penalty will be £300 per month
  • Employers with 250 or more the penalty will be £400 per month

HMRC will use the last available information to determine the number of employees to calculate the size of the penalty for each period where a return is late. HMRC reserve the right to charge interest on top of the filing penalty after 3 months of none compliance.

MG Payroll Services could potentially save you a small fortune. All our payrolls are filed accurately and on time complying with HMRC’s RTI regulations.

For example;

Our annual fee for 1 employee is £78 (£1.50 x 52) this includes all RTI submissions and much more  Potentially if you don’t comply with HMRC’s RTI submissions your business could be looking at a fine of up to £1,200.

If your business is a constant offender and flagged up by HMRC for none compliance of RTI you may find other taxable areas of your business coming under closer scrutiny by HMRC.

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