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There are two different penalty régimes affecting end-of-year pay-as-you-earn returns. Under section 98A, Taxes Management Act 1970, there is an automatic penalty of £100 for each month that the information is outstanding, with a further £100 a month for every 50 employees. By contrast, under section 98 the penalty is not automatic, but has to be imposed, is subject to appeal, etc.
There are two different penalty régimes affecting end-of-year pay-as-you-earn returns. Under section 98A Taxes Management Act 1970 there is an automatic penalty of £100 for each month that the information is outstanding with a further £100 a month for every 50 employees. By contrast under section 98 the penalty is not automatic but has to be imposed is subject to appeal etc.
Section 98A applies only where regulations specifically apply it and historically has applied to forms P35 but not to forms P11D. In fact it has been unusual for penalties to be imposed for late filing of forms P11D except in the most extreme cases.
Crucially section 98A does apply to National Insurance returns. This year with the extension of Class 1A to most benefits the statement of the amount of Class 1A...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
