Struggling to make your Full Payment Submissions (FPS) on time – let us help!

At CHW Small Business Accountants in Bolton we found that increasingly, as employers and business owners our clients were struggling to make their FPS on time.  That’s why more and more of them are passing the responsibility to us.

Nicola Roby, Director at Bolton Accountants CHW explains. FPS is a submission that you need to make to HMRC every time you pay your employees. The information included in the FPS includes employer and employee information, pay and deductions and any reasons for late reporting.  All employees must be included regardless of what they earn.

The information which is submitted to HMRC helps them monitor whether each individual’s tax and NI contributions are correct, and there can be repercussions if the submissions are either late or inaccurate.

As an employer you need to make your FPS to HMRC on or before the date you pay your employees and penalties can apply each time an FPS is late. HMRC doesn’t automatically raise a penalty for late submissions, especially if the submission is made within three days of the due date but if you are persistently late with submitting your FPS, HMRC will consider imposing a penalty.

The FPS can be made online using the PAYE reference and accounts office reference for the company and there are many cloud based software providers which link in directly to HMRC.

Further complications can arise when an employer needs to submit an Employment Payment Summary (EPS) in addition to the FPS such as in circumstances of maternity pay, paternity pay, adoption pay, CIS, apprenticeships as just a few examples.

There is an incredible administrative challenge for employers in keeping up with all the requirements associated with payroll which is why many of our clients choose to outsource this responsibility to us.

If you would like help with payroll and FPS or for any other advice, contact Nicola Roby, Director at CHW Small Business Accountants in Bolton on 01204 534031 or via our enquiry form.


This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.

DID YOU FIND THIS USEFUL?

Share it with your network:  

Want more great content?
Sign up to our newsletter

    Follow us

    Tweets by @CHW-accounting

    CHW-Accounting
    @chw-accounting


    Twitter: chw_accounting

    Read enough?

    Want to find out how we can help you and your business? Get in touch today and let's have a chat.

    WHAT'S THE NEWS?

    Grab a biscuit and a brew and read our latest news.

    8 March 2022

    Temporary reduced VAT rate for leisure and hospitality to...

    by

    On 8 July 2020, as an urgent response to the pandemic, the government announced a number of VAT measures including a temporary reduction of the VAT…


    Read more >

    1 March 2022

    National Minimum and National Living Wage changes April 2022

    by

    From 1 April 2022, the government is increasing but the National Minimum and National Living Wage rates. The National Minimum Wage is the minimum amount an…


    Read more >

    22 February 2022

    Dividend taxes to rise from 6 April 2022 –...

    by

    The government has confirmed that it will not be backing down on the planned hike in National Insurance (NI) and dividend tax from April 2022. There…


    Read more >

    10 January 2022

    Late filing and late payment penalties are to be...

    by

    HMRC has given self-assessment taxpayers more time to ease COVID-19 pressures. With the self-assessment deadline less than three weeks away, many individuals and agents will be…


    Read more >

    7 January 2022

    Making tax digital for VAT – April 2022 –...

    by

    Since 1 April 2019, VAT-registered businesses with a turnover above the VAT registration threshold of £85,000 have been required to keep their records digitally and provide…


    Read more >

    YOUR CHALLENGES

    No matter what your challenge is, we’ve probably dealt with it before.



    Need an Accountant?

    Get in touch >


    Need an Accountant?

    Get in touch >


    Tax issues?

    Find out more >


    Tax issues?

    Find out more >


    Trying to grow your business?

    We can help >


    Trying to grow your business?

    We can help >


    Managing cashflow?

    We can help >


    Managing cashflow?

    We can help >


    Starting a business?

    We can help >


    Starting a business?

    We can help >


    Looking for funding?

    Need help with funding? >


    Looking for funding?

    Need help with funding? >


    Buying or selling a business?

    We can help >


    Buying or selling a business?

    We can help >


    Adopt the cloud?

    We can help >


    Adopt the cloud?

    We can help >


    What else can we do for you?

    We can help >


    What else can we do for you?

    We can help >
    CONTACT US

    Get in touch, no hard sell, just a brew, a biscuit and a chat.