Qtac Payroll Products

HMRC Electronic Filing Incentive Scheme

The HMRC intends to make all employers 'File by Internet' (FBI), in stages commencing in the financial year 2004/05.

Since 2004/05 employers with 250 or more employees are obliged to make their tax year end submissions electronically, in the 2005/06 tax year this was extended to businesses with between 50 and 249 employees.

Employers with fewer than 50 employees will not be obliged to File by Internet until 2009/10, but there will be financial incentives to encourage them to do this earlier. In each year they use FBI they will be able to claim the following:

for the year 2007/08 - £100

for the year 2008/09 - £75

Therefore a small employer choosing to make FBI returns from 2007/08 will be able to claim a total of £175 in incentive payments.

Want to know more about the CIS Scheme and Qtac Payroll Product's CIS features?

From April 2007 the new construction industry scheme rules were applied.

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