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Employers Annual Returns

As an employer its likely you will have received notice to complete your employers annual return form (P35) for the 2010/11 tax year. If you filed online last year this notice will have been issued electronically to you by HMRC – so make sure you log in on your HMRC account and check you have had one.

So, what to do? Well, dont panic! The return covers the tax year 6 April 2010 to 5 April 2011 (inclusive) so you cant even complete it yet. You do actually have until 19 May 2011 to file your return and forms P14 for each employee that has been in your employ in the tax year – miss this deadline and you will be penalised.

If you have done your own returns in years before you will know that, provided you are well organised and kept your records in good order, dealing with this annual form is not too much of a hassle, particularly if you use preparatory software (and indeed we would recommend that you do that rather than using HMRC’s online service as this can be very time consuming if you have several employees).

For many employers this is yet another bind that takes them away from doing what is important – running their business profitably. It is with this in mind that many turn to people like us, a firm of accountants that run a payroll bureau service at a cost that is less than you can probably earn – or is at a price that is worth paying just to not have to worry about the hassles!

Need to know more? You can find info about our service on www.myaccounts.co.uk/services/payroll.php

 

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