Changes to the reporting of PAYE in real time have been announced by HMRC.
The updates are as follows:
- a ‘Late reporting reason’ that can be entered on a Full Payment Submission (FPS) that’s late
- being able to make your first 2014-15 PAYE submission any time after 6 March 2014
- providing bank account details on an Employer Payment Summary (EPS) to get quicker repayments
- new fields on an Earlier Year Update (EYU) you’re completing for 2013-14
- a new online appeals facility being introduced in 2014-15
- more about what counts as a reasonable excuse if you don’t report on time
- updated guidance for employers exempt from filing or unable to file online
The changes will be effective from April 2014. For further information visit the HMRC website.
