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27 Mar 2009
HMRC is in the final stage of phasing out paper filing for PAYE returns forcing all companies to comply with online paper filing by 2010.
Accountants and businesses, with fewer than 50 employees are still able to file using the traditional paper method for this year only but will miss out on a potential £75 rebate from the tax man for using the internet filing system.
The rolling implementation started in 2004/05 year end when it became compulsory for employers with over 250 staff to file online suffering a penalty if they failed to comply.
A spokeswoman for HMRC said: 'HMRC’s customers and their agents can fulfil their tax obligations more accurately, more quickly and with greater certainty using online services. For Government, greater use of online services releases resources to focus on higher value activities such as customer service and tackling non-compliance.'
HMRC created an incentive plan to coerce accountants and firms to implement the internet system earlier. Companies that used the online system were eligible for a £250 tax free rebate from 2004 – 2006 with this reducing from 2006/07 to £150, 2007/08 to £100 and 2008/09 £75.
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