Small biz £75. bonus for on line returns?

Nomad25

Can anyone shed light on this? I picked this up today off the Microsoft small business site:

Small business owners with fewer than 50 employees qualify for a £75 bonus payment if they are prepared to embrace the technological era by filing their tax returns over the internet.

HM Revenue & Customs (HMRC) says small employers are entitled to file either by the traditional paper-based method or online, but only those in the latter category qualify for the payment.

Business owners with 50 or more employees must submit their 2008-09 return over the internet or face a penalty.

In order to file online, employers must first register with HMRC's PAYE Online for Employers service.

Users receive an activation PIN number within a week of doing so, allowing them to use the service.

HMRC says agents, tax advisers and payroll bureaux can also file on behalf of employers, with the £75 bonus remaining valid even if small business owners adopt this approach.

My accountant files my returns on-line. My business is not a limited company. I employ less than 50 people. Would I qualify for this bonus, when does it come into effect and how do I apply for it?

If the above info is correct, hope this helps others.

Nomad25

Sorry should have put HMRC in title and here's the link:

http://www.microsoft.com/uk/smallbusiness/sbnews/small-business-finance/Online-tax-returns-to-receive-bonus-19091656.mspx

McAzrael

http://www.hmrc.gov.uk/paye/file-or-pay/fileonline/intro/tax-free-payment.htm

If you qualify the you just knock £75 off one of next year's payments. They knock it off your liability automatically. If your accountant is filing online I'd imagine he's handling it for you. Who calculates your payments?

This has been going on for a few years now. If I remember right, it started at around £250 and shrinks a bit every year until it will be at £0 when we all have to file online.

Nomad25

Who calculates your payments?

The accountants.

bordercars

so how would i know if my accountant had filed online, and i had benefitted from the 250>. might my accountant have ummm taken the windfall.

fengirl_2

Have to emphasise this is in rspect of PAYE returns, not your personal return or company return.

Savvy_Sue

bordercars wrote: »

so how would i know if my accountant had filed online, and i had benefitted from the 250>. might my accountant have ummm taken the windfall.

Ask them. Our payroll service charges for doing the filing, but we still turn a small profit with what HMRC lets us off the following year.

But note what fengirl says, it is JUST the PAYE stuff.

Ste_C

bordercars wrote: »

so how would i know if my accountant had filed online, and i had benefitted from the 250>. might my accountant have ummm taken the windfall.

No, because even if a cheque was written out it'd be made out to your company. In any case, if I remember rightly it is issued as a credit against your PAYE/NI and no physical money is paid out unless your total PAYE/NI is less than the incentive payment, which is pretty rare.

Slinky

I've had payments back by cheque from HMRC for the 'windfalls' where my accountant has filed the return online. Up until last year there was only me employed by my company and I pay minimal tax/NI.