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.

18 November 2019

Leasing a car – how much VAT can you...

by

With a few exceptions, reclaiming VAT paid on the purchase of a car is notoriously difficult. By comparison though, the VAT position for leasing and similar contracts is more relaxed.


Read more >

11 November 2019

HMRC Enquiries – beware if you have a cash...

by

Even in this digital age some businesses remain heavily reliant on cash transactions. HMRC views these as high risk and as a result targets cash businesses with VAT enquiries, using special techniques to justify investigating them.


Read more >

6 November 2019

Did Making Tax Digital for VAT (MTDfV) pass its...

by

The first big deadline for MTDfV is history and whilst there was a fairly high failure rate, it was not as bad as originally feared.


Read more >

29 October 2019

Business property relief (BPR) don’t let it disappear

by

BPR shelters the value of your business from the HMRC. The trouble is though, when you retire from your unincorporated business, the relief disappears immediately. CHW explain how you can preserve it.


Read more >

22 October 2019

How to enhance tax and NI-free termination payments

by

New rules will apply to employment termination payments from 6 April 2020 meaning that some settlements will be subject to NI in addition to tax. With this in mind, CHW look at how you can you improve the tax and NI efficiency of a termination settlement.


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.