Finance Bill 13: Changes to RTI penalty regime
The government introduced a number of RTI and PAYE late payment filing penalties in this years' Finance Bill, which won’t come into effect until April 2014.
However, penalties for filing accuracy will come into force as soon as the Finance Bill receives Royal Assent.
Earlier this month, tax bodies were dismayed at the government’s determination to levy in such penalties and concerned that they would have an impact on small businesses.
The new Finance Bill penalties, while a source of concern for tax bodies and other professionals, appear to make an attempt at sympathy to those who will take time getting used to the new PAYE filing system.
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