7 Dec 2009
Electronic filing confirmed compulsory for all companies from
payroll-year-end 2009/10.
IRIS one of the UK's largest suppliers of payroll software
and the largest privately owned UK software business, announces the
publication of a guide to HMRC requirements for online payroll
filing for small businesses.
From fiscal year end 2009/10 next April, HMRC will require
all employers to file their P35 and P14 year-end tax and national
insurance documents electronically. However, it seems
likely that many businesses have still not prepared for this
change.
Oliver Shaw, MD of IRIS SME Solutions, said; "Until now
organisations with fewer than 50 employees have been free to file
their returns using a number of methods. Larger organisations have
been compelled to file electronically since 2005; however, new
regulations make electronic filing compulsorily for all businesses
from the end of this fiscal year. We've created this guide to
provide some practical, easy to understand help for small business
owners so they can ensure they meet the new HMRC
requirements."
The P35 and P14 tax documents for around 50% of UK employees are
submitted through EDI systems by large and public sector
organisations: the average number of employees for these
organisations is over 2400. Details for around 40% of employees are
submitted using internet applications, but around 66% of
organisations use this method - clearly with a smaller average
number of employees of around 25.3.
IRIS payroll software is currently used by 15% of UK
businesses* with an average of 12 employees. The 260,000
businesses (around 16% of UK employers) submitted P35s on paper at
the end of the 2008/09 tax year - each with an average of 4
employees.
Mr Shaw concluded, "We've written our guide in a way that we hope
will be of wider use to small businesses. For example, as well as a
description of how you might use IRIS software to help with your
payroll and online filing, there are also sections on what computer
hardware you need, and how you might consider expanding use of
social media sites for marketing purposes. This is just one
side-benefit that businesses could create by moving their payroll,
NIC and Tax online."
Click here for the guide to
online filing - 'Attention all Small Business Owners!'
Click here for more about IRIS
payroll software
Click here for
registration to the HMRC Online filing service
*IRIS software is used by many accountants,
payroll bureaux and other businesses to run payrolls for multiple
companies.
