PAYE late filing penalties are relaxed by HMRC

HMRC officials have acknowledged that they will start relaxing late filing penalties for people who send PAYE information late.

In a statement released on 17 June 2015 they acknowledged that they will take a more proportionate approach and concentrate on the more serious defaults on a risk-assessed basis.

This decision relates to their earlier conclusions within the HMRC document published in February 2015. The document stated that small automated penalties are costly and will take valuable resources away from more serious compliance failures.

Colin Ben-Nathan, the chairman of the CIOT’s Employment Taxes Sub-Committee, commented, “We welcome the fact that HMRC are revisiting their approach to penalties and looking to focus much more on serious cases of abuse and persistent non-compliance.”

As experienced Chartered Accountants, Jack Ross is well versed in managing payroll for many clients across the North West. If you would like more call our Manchester accounting team on 0161 832 4451 or email info@jackross.co.uk.