Sep 2014
4
What will happen if you do not report payroll information on time?
HM Revenue and Customs (HMRC) have issued new guidelines for employers explaining about late/non filing penalties, inaccurate reporting and specific charges and how to avoid penalties.
The new guidance explains to employers that penalties will be introduced from 6th October 2014 for anybody that does not report their payroll information on time (late submissions).
These penalties can arise if a Full Payment Summary (FPS) is sent late, if the employer does not send the expected number of FPSs, or if an Employer Payment Summary (EPS) is not send when the employees are not being paid in any given period.
The guidance will also set out the limited circumstances in which a penalty will not be charged.
