MANDATORY ELECTRONIC PAYMENT AND FILING OF PAYE DOCUMENTATION

The Inland Revenue have published regulations for the mandatory electronic payment of PAYE by large and medium sized employers.

Electronic filing for large employers i.e. those with 250 or more employees becomes mandatory for 2004/05 onwards. End of year returns for that tax year must therefore be filed electronically by 19 May 2005.

Employers with between 50 - 250 employees are required to meet this same standard by 2005/06.

Small businesses i.e. with less than 50 employees will not be required to file electronically until the tax year 2009/10.

However, the government is offering cash incentives over the next 5 years which will make it attractive to the small business sector to make the move to electronic filing well in advance of the mandatory deadline.

Such small businesses may be able to claim over £800 from the government by filing their PAYE documents electronically from 2004/05 onwards.

Almost inevitably, whether your business is large or small, it will be necessary for you to consider changing/upgrading any payroll software you currently use in order to meet the new electronic filing regulations.

Alternatively, if you do not already make use of the DTE Payroll Bureau then our payroll staff would be delighted to discuss your requirements and provide you with a free, no obligation quotation for undertaking the payroll service that will include electronic filing thus enabling larger companies to fulfil their statutory requirements and smaller companies to claim the financial incentives.

For more information please contact John Turner on 0161 767 1213 or click here to complete our quotation form.