Published on Thursday, 24 March 2011 00:00
The time is looming again to prepare the year end for payroll. Here is a short checklist of things you will need:
- If you use commercial software, then you need to ensure that you have the relevant updates, as the bands and rates for National Insurance are increasing this year.
- All P35 Employer Annual Returns must be filed online, so you will need your login details with HM Revenue and Customs. This is the first year that companies with less than 50 employees MUST file online. So if you have not registered to file online yet, now is the time to do so, as you will need to wait up to 7 working days for the activation code from HMRC
- You will need a supply of P60’s. Have you placed your order with HMRC? Most commercial software will print onto HMRC stationery although you may need to adjust slightly. The advantage of using HMRC stationery is it is free!
- Reconcile your PAYE payments now, this will save you time when you are preparing the return.
REMEMBER
ALL RETURNS NEED TO BE FILED BY 19 MAY 2011
If you do not file online when required to do so, HMRC may charge you a penalty. The penalty will range from £100 up to a maximum of £3000 depending on the number of forms that should have been filed online.
If you need any assistance with filing your return, please contact us for a quotation on (01635) 884270 or email us on info@opusaccounting.co.uk
