By Elaine Gibson, Senior Policy Officer at the IPP
CourseMonster.com invited the Institute of Payroll Professionals to give you the top tips to file a paper tax return successfully.
Payroll professionals are under an obligation to file returns to HM Revenue and Customs (HMRC) on a regular basis. The main returns being in-year forms, monthly and quarterly reporting and payment of Pay-As-You-Earn (PAYE) and the End of Year Return Annual forms P35 and P14. Last but not least, also required are forms P11D/P11D(b) for reporting Benefits and Expenses.
HMRC have been gradually changing the filing obligation from paper to e-submissions and this applies to all employers;small, medium and large. Paper filing is becoming a thing of the past;however there are still occasions where paper is still permitted. This is a good point to reiterate the e-filing deadlines and to bear in mind that to not follow these will result in penalties being imposed".
End of Year Return forms P35 and P14 - All employers must now file these online by the 19 May in any tax year.
There are a few exemptions which would apply and further information can be located here
and #61656;Employers operating HMRC's simplified deductions scheme for domestic employees
and #61656;Exemption on religious grounds
and #61656;Employers who employ someone to provide care or support services at or from their home
Monthly Returns for PAYE - All employers must make returns for payments of PAYE electronically.
In year forms P45 and P46:
End of Year forms P11D/P11D(b):
Top tips are:
Ensure you follow the HMRC timetable for filing deadlines, be it for the mandated online process or permitted paper submissions. The calendar is located on the HMRC webpages within the "Employers" section.
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About the IPP. The IPP is a 25-year-old membership organisation that wants to achieve chartered status (formerly known as The Institute of Payroll and Pensions Management until Sept 2006). The Institute offers: