News
Electronic Filing
Certain employers must file electronically, but who does it affect?
The basic rule is that if you employ over 50 employees in a year you will need to file your year end Employer Annual Return (Forms P35 and P14) electronically.
There is also a new requirement from 6th April 2009 for those with over 50 employees that you will now also need to file all in-year forms such as forms P46 and P45 electronically as well.
Those who are close to the 50 mark should beware. Joiners and leavers in the year can easily mean you have over 50 employees and make Online filing a requirement for you, so do not just assume you are below the limit based on current staff levels.
If you have less than 50 employees there is still no requirement for you to file electronically. It has still not yet been confirmed when mandatory filing for smaller employers will be introduced but it is thought that it will not be too far away.
If you have less than 50 employees and do choose to file electronically, this is the last year that a tax free incentive can be claimed. This year the incentive amounts to £75.
If you have any queries regarding the preparation of your payroll our in-house payroll bureau PayScheme will be happy to help. Contact a member of the team on 01767 220199 or email us on info@payscheme.com