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Up to £825 tax-free for small employers
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johnllew
Posts: 1,928 Forumite
The Inland Revenue are enticing small employers (fewer than 50 employees) to file their end-of-year returns online with an offer of £825 tax-free. I've spoken to the IR and they confirmed the employer doesn't actually have to have paid any remuneration to qualify for the payments; a "nil" return will suffice. This could be a nice little bonus; especially for all those small husband and wife companies that Gordon Brown encouraged everyone to set up. As we're coming to the end of the first tax year that qualifies for the payments, now is probably a good time to set things up.
Full details here.
Full details here.
Up to £825 tax - free for small employers
You can get up to £825 tax-free from us over five years if you file your end of year returns online:
file online for 2004-05 (return due by 19 May 2005) and get £250
file online for 2005-06 (return due by 19 May 2006) and get £250
file online for 2006-07 (return due by 19 May 2007) and get £150
file online for 2007-08 (return due by 19 May 2008 ) and get £100
file online for 2008-09 (return due by 19 May 2009) and get £ 75
Total £825
The tax-free payments are not available for any other tax years.
To qualify for the tax-free payments:
you must have fewer than 50 employees
send your P14 and P35 data online
and the return must meet the Inland Revenue Quality Standard. See: 'Using the right software to do your online filing'. If you use the simplified PAYE arrangements and send us your P37 and P12 data online you will also qualify for the tax-free payments.
You will not qualify if any part of your end of year return is sent to us on paper or using magnetic media. See: 'How to file online'.
0
Comments
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Nice one!
Plus, even if you're NOT making a NIL return, it's worth doing earlier rather than later because a) you get more money that way and b) you get more chances to get it right before you HAVE to go down that route!Signature removed for peace of mind0
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