What happens if you do not report payroll information on time?
26 August 2014
HM Revenue and Customs (HMRC) have issued new guidance for employers explaining about late/non filing penalties, inaccurate reports, specified charges and how to avoid penalties.
The new guidance explains that penalties will be introduced from 6 October 2014 for employers who report their payroll information late.
These penalties can arise if a Full Payment Summary (FPS) is late, if the employer does not send the expected number of FPSs, or if an Employer Payment Summary (EPS) is not sent when no employees are paid in a tax month.
The guidance also sets out the limited circumstances in which a penalty will not be charged.