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Let Stafftax secure you up to £175
Let Stafftax secure you up to £175 in HMRC incentive payments
As part of the present Government's e-business strategy all UK employers will be required to file their Annual PAYE returns electronically with HMRC, either by EDI (Electronic Data Interchange) or by the Internet, by the tax year 2009/2010. In order to encourage small employers to file electronically HMRC introduced a series of incentive payments to all those who file early. The incentive scheme began last year, but it's not too late to benefit.
Q. I employ a gardener and a housekeeper, am I eligible for these incentive payments?
A. Yes.
All those employing fewer than 50 people are eligible for tax free incentive payments of £175 over the next two tax years if they file their year end PAYE returns electronically.
Q. How do I go about filing electronically so that I can claim the £175?
A. When you subscribe to Stafftax you don't have to do anything at all; providing you pay tax and NI on behalf of your domestic staff we will automatically file your end-of-year return electronically, which entitles you to the incentive payments.
Q. How and when do I get the money?
A. The next payment of £100 will be made available in 2008 and will be deducted from your second quarter's liability payment. You will also have the option of receiving a cheque if you prefer this.
Q. Why is HMRC giving away this money?
A. Because they recognise that they can make substantial savings themselves by receiving payroll data in electronic format, rather than receiving it in paper format and re-keying it. The Inland Revenue contacted us several years ago to work with them trailing their system and told us that the savings in labour they made on our client base alone exceeded one-man year!
Q. How did Stafftax end up working so closely with HMRC?
A. Stafftax, as part of Enable Ltd, act for over 8,000 employers in the UK, which represents just under 1% of the total number. The Revenue approached us because they could trial their systems over a lot of employers' payroll returns using just one company. It was a lot of work for us over a busy period, but it means that we are today the only payroll company in the UK that has already filed all our clients' year-end returns using HMRC's electronic filing system.
More about Stafftax' involvement with EDI can be found on the page 'Enable Ltd; EDI Case History' on the Inland Revenue web site.