PAYE and NI

Details on the penalties for late and inaccurate returns submitted via the new Real Time Information (RTI) system have been published by HMRC.

Small businesses, the self-employed and start-up companies could all struggle with major upcoming changes to the welfare and benefit system and the way PAYE data is reported, a report by MPs has warned.

A quarter of small firms are oblivious to major upcoming changes to the pay-as-you-earn (PAYE) system which will alter their payroll reporting duties to HMRC, a survey by the Federation of Small Businesses (FSB) has found.

HM Revenue & Customs (HMRC) has kicked off its Real Time Information (RTI) awareness campaign and will be writing to more than 1.4 million employers over the next month.

The Government's 'flagship' policy offering a National Insurance Contributions (NICs) holiday to new businesses that meet a strict criteria should be extended, the Federation of Small Businesses (FSB) claims.

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