From today the taxman will issue automatic £100 penalties to each and every one-person business that fails to make monthly RTI submissions. Do you fall under the eye of this automated revenue-raising machine of HMRC?
Here at inniAccounts we’ve been running real time payroll (RTI) successfully for two years, and we have systems and processes in place to ensure our clients don’t fall victim to HMRC’s new penalties. However, our experience shows this isn’t the case for other accountancy firms, and for business owners running their own payroll.
This month, I’ve been asked by Contractor UK to comment on HMRC’s RTI penalties. You can read the full article here – you can find out more about these charges and why they’re difficult for conventional accountants to avoid.