Small Employers Offered Tax-Free Cash By The Revenue
Small businesses in Norfolk are being urged by a local firm of accountants to claim free money from the Tax Man. Banham Graham, which has offices in Norwich and Great Yarmouth, is pointing out that there are just two weeks left to take advantage of a tax-free bonus from HM Revenue & Customs, the last year that it will be available.
The £75 incentive will be paid to firms employing fewer than 50 people, provided they file their 2008/9 Employer Annual Returns online by 19th May. But Banham Graham is pointing out that getting hold of an Activation PIN to enable online filing can take up to a week – which means acting fast to secure the bonus.
Employers with over 50 staff are obliged to file online, but smaller businesses still have the option of submitting paper returns.
“HMRC is keen to get everybody filing online, which is why over the past few years they have offered cash incentives to small firms to do so,” said Banham Graham partner Sue Rolfe. “But to file online, employers must first register with HMRC’s ‘PAYE Online for Employers’ service, which can take up to a week. So those wanting to take advantage of the bonus need to move fast.”
All Annual Returns have to be filed by 19th May, and there are late-filing penalties for those who don’t meet this deadline.
More information is available from the HMRC Employers’ Helpline on 08457 143143, or online at www.hmrc.gov.uk/paye.