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Warning over timing of annual schemes’ FPSs

25 June 2013
Issue: 4408 / Categories: News , RTI , Employees , Income Tax

Taxman may cancel payer status

Employers are issuing full payment submissions (FPSs) from annual PAYE schemes for months in which employers do not make their annual payment, according to HMRC.

Businesses that issue an FPS for a period other than that which has been agreed run the risk of an official change to the payment month, the Revenue has warned.

If a second FPS is submitted at the wrong time, the taxman will automatically cancel the annual payer status, resulting in the employer having to send subsequent FPSs and payments on a monthly basis or even more frequently.

Employers that change payment frequency should submit real-time information returns for the appropriate periods.

HMRC have moved to remind businesses that submissions should be made only in the one month in which employees are paid. The employer can send as many FPSs as necessary as long as all the payment dates are within the same tax month.

If there is no return to make in the month in which payment would normally be made, the employer should send an employer payment summary indicating that no payments have been made during the period. 

Issue: 4408 / Categories: News , RTI , Employees , Income Tax
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