Filing P35s online
November 7th, 2011
From 2010/11 onwards, all employers are required to submit end-of-year PAYE forms P35 and P14 online.
You will need to register – give yourself a couple of weeks before the deadline as you will need to receive an Activation code and this can take a week. You will also need some payroll software. The Taxman’s free version is adequate if you only have a few employees. Note that you will need to order paper-copy P60s for manual completion to give to your employees.
If you employ more than a few employees, you will need to buy payroll software (or use a payroll bureau such as Longhill Accounting offer). Using a computerised payroll system will have many benefits, not just for the year-end and will save you time in the long run.
Aim to have prepared your year-end return as early as possible after the tax year end. If there are errors in it (such as including employees on your P35 but not submitting P14 details; errors in NI numbers; including tax from a previous employment in an employee’s total tax paid, to mention a few common errors) it will be rejected. You will then have time to correct these before the deadline of May 19.
Failure to file your Year-end returns online on time will result in a penalty.
For useful notes on Year-end filing, look at http://www.hmrc.gov.uk/paye/payroll/year-end/annual-return.htm
The content of this article is for general information only. It should not be relied on and action which could affect your business or personal circumstances should not be taken without appropriate professional advice.
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