TaxCorporate TaxSMEs coerced with online filing carrot

SMEs coerced with online filing carrot

The Inland Revenue has promised to pay smaller employers a tax-free lump sum of £825 if they file their end of year tax returns online.

Link: Enticing tax filers online

From May 2004 large employers must start paying tax and other deductions electronically. And while smaller companies will not have to follow suit until much later, the Revenue wants to encourage early adoption.

The incentive will start with the 2004/05 end of year returns and will run over five years. The Revenue is writing to 1,6 million employers from today to inform them of what company size bracket they fall in, and hence when they need to start filing electronically.

Large employers are those that have 250 or more staff, medium employers will have between 50 and 249, and small employers less than 50. Medium sized employers must file electronically by May 2006.

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

1m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

1m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

4m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

4m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

7m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

8m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

8m Alia Shoaib, Reporter