Extended PAYE Compliance Deadline for Micro-Businesses
Micro-businesses have benefited from an extension to the deadline for compliance with real-time PAYE reporting (RTI) requirements. The deadline has now been pushed back to April 2016.
Small businesses with more than 10 and up to 49 employees, meanwhile, have until April 2014 to begin sending information in real time. This deadline is also an extended one, the result of a previous easement.
The latest extension will only apply to businesses that are already in existence. New start-ups will not have until April 2016 to implement the new real-time processes.
Ruth Owen, Director General for Personal Tax at HMRC, acknowledged the challenge that new RTI measures presented to micro-businesses. Owen said of the easement that “This package strikes a good balance by ensuring RTI improves PAYE processes while minimising the impact on micro businesses and their agents by giving them up to two years to adapt.”