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Extra-statutory concession (ESC) B46, Automatic penalties for late company and employers’ and contractors’ end-of-year returns, is to be withdrawn on 31 March 2011.
Under its terms, HMRC do not issue penalties for late filing of company tax returns or employers’ and contractors’ construction industry scheme end-of-year returns, provided they are received by the last working day within seven days of the filing date.
From 1 April 2011, company tax returns for accounting periods ending after 31 March 2010 must be filed online.
All forms P35 and P14 must already be filed online, and contractors are no longer required to file end-of-year construction industry scheme returns.
The concession has therefore become redundant because the possible causes of late filing it was intended to address can no longer arise.
