RTI penalties deadline extended again
Automatic RTI (Real Time Information) penalties were due to kick in from 6 October for all employers failing to report correctly under RTI. However, new legislation has relaxed these rules again for small businesses with fewer than 50 employees. They have been given an extra five months to get organised before automatic penalties arise, starting from 6 March 2015.
In April 2015 there will be automatic penalties for late payments as part of the whole RTI system.
It is also worth noting that micro-employers, with less than 10 employees are not required to report fully under RTI until April 2016 – they only have to report by the end of the last pay day in each tax month.
For more information, the Figurit team can help point you in the right direction, call on: 020 7376 9333