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Don’t Miss Annual Returns Tax Deadline
 If
your business has not yet filed its’ annual
returns to HM Revenue and Customs (HMRC),
then you need to act quickly to avoid
penalties. The deadline is 19th
May 2007.
You need to send an annual return if you had
to complete at least one P11 (or similar)
deductions working sheet. You may also have
to send P35 forms or P14 forms. If (like
many business) you are not sure what you
need to send, or if you do not need to send
a return; you should contact HMRC on the
number at the bottom of the page.
You can save time by filing your online, and
small businesses that do so before the
deadline can receive a £150 tax free
payment. If your business has over 50
employees, you must file online or face a
fine of up to £3000. You should act quickly
as you need to register online before
you can submit any returns or forms.
Open 24 hours day, seven days a week, online
filing provides employers with the quickest
and easiest way of filing a return.
Employers who file online are also able to
benefit from practical help, as HMRC's
internet PAYE service includes an error
alert tool that checks all returns to ensure
they are correct.
To help you complete the form HMRC has
produced a podcast (audio recording saved as
an mp3) with information on what you need to
do.
You can get the HMRC podcast here.
Employers who would like help, tips and the
latest expert advice on online filing for
2006-07 can visit the
HMRC website
here
or call the HMRC Employer Helpline on 08457
143 143.
For more information on taxation issues
visit our Accounting portal here.
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