HMRC will introduce penalties for late real-time pay-as-you-earn (PAYE) returns from October, 2014.
Companies employing 50 or more people will face penalties from October 6, 2014 and the companies with fewer than 50 employees will be subject to the new regime from March 6, 2015.
The in-year penalties will be issued quarterly. The end-of-year penalties will be replaced and which will apply up to the 2013-14 tax year. If employers believe that they have a reasonable excuse for sending a return late, a provision of appeal will be available against their penalties using HMRC’s new online appeals process.
