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Probate and Inheritance Tax

Bookkeeping • Business Services • Business Tax • HMRC • Personal tax

Small businesses get temporary reprieve from RTI penalties

By Simon Paterson on 15 September 2014

HMRC have confirmed they are postponing the introduction of RTI for owners of small businesses because they believe they are not ready to comply with the new system; they also say its introduction is causing undue disruption when the economy is recovering. It is the second time the date for introducing RTI has been moved and now small businesses with 49 or fewer employees have until March 2015 to become compliant.

Described as the biggest overhaul to the payroll system for 70 years, Real Time Information (RTI) requires employers to provide information about tax and national insurance deductions every time an employee is paid, rather than annually. It was due to be compulsory for all employers with effect from October this year.

Now, HMRC have announced that businesses employing 49 or fewer staff will not face RTI late filing penalties until March 2015 and can continue submitting PAYE information outside of RTI in the interim. Note this reprieve is only available to smaller businesses; any employers of 50 or more staff will still be fined if they file PAYE returns late under RTI after the 6 October deadline.

If you have concerns about complying with RTI or need support with payroll systems please contact Jamie Spears by emailing js@rjp.co.uk

Business Services

Probate and Inheritance Tax

If you have offshore assets, you must disclose them

As published on the official Gov.org website, if you are a UK tax resident and you hold a bank accou...

By RJP LLP on 22 November, 2023

Business Services • Business Tax • Personal tax

Self-employed and partnerships, plan to avoid a possible high

We have written a couple of articles about this issue and given how much money could be at stake, he...

By RJP LLP on 22 November, 2023

Business Services • Business Tax • Personal tax

How does the 2023 Autumn Statement affect you?

Today’s Autumn Statement was widely leaked over the past few days but it’s never official until ...

By RJP LLP on 22 November, 2023

I wanted to write and express our gratitude for your help and hard work in getting Probate through and settling all the taxes. I am so pleased that we selected RJP, as your professional help and updates throughout this process have been invaluable. If at any time in the future Probate assessment may be needed, you will be our first port of call. Once again, many thanks to the whole team.

Dan Cook, Probate client

I just wanted to drop you a short note to say how grateful I am for the support that RJP has provided over the past 4 weeks while our Financial Controller was away. I struggle to comprehend how much work your staff get through during their weekly visits and they are always a pleasure to have around the office.

I Evans, CFO, Mobliciti

Just a quick e-mail from me to thank you for achieving the target for producing the draft accounts – it is very much appreciated and gives a first class impression of your firm. Many thanks.

J Stanfield, Chairman, BBS Actuaries Ltd

I would like to take this opportunity to thank you very much for the amazing job you have done navigating us through this whole process. My family and I also really appreciate the care and compassion demonstrated by you and your team in every dealing. Our thanks to everyone.

M Goldsmith, Probate Client

RJP provide our company with a complete service which takes the stress and strain away from the day to day running of our accounts! Their understanding of our business and their patience and advice is invaluable.

Outsourcing Client

60 Day Deadline for CGT Returns and Tax Payments

If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.