HMRC have announced that late filing fees for Real Time Information reporting will commence from 6th of October 2014. The fines will begin in October and will be charged at a new rate, based on the number of employees on the companies PAYE scheme; the new fines can be seen at the bottom of this page.
From April 2015, HMRC will also begin an automated process to issue fines for late payment which will be a percentage based on how many month’s you owe, and how often you make late payments. A table for this can also be found at the bottom of the page.
Notices for these penalties will be issued quarterly by an automated system. Employers should ensure that all payments are paid before their due date to ensure no penalties are payable. If you receive a penalty notice which you believe is incorrect then do not just pay it – Contact your accountant or payroll provider!
Late Filing Penalties:
|Number of Employee’s||Monthly Penalty|
|1 to 9||£100.00|
|10 to 49||£200.00|
|50 to 249||£300.00|
|250 or more||£400.00|
Late Payment Penalties:
|Number of Late Payments Per Year||Penalty Percentage||Amount which the penalty applies to|
|1 to 3||1%||These percentages apply to the total outstanding payment due to HMRC|
|4 to 6||2%|
|7 to 9||3%|
|10 or More||4%|