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RTI - late EYU

Late EYU penalty

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A company has unearthed a CIS Statement of Payment and Deduction for the month to 5.4.2018.  There were no other late submission in 2017/18.  If the CIS statement is filled now as an EYU, am I right to assume that there should be no penalties?  There might have been one late submission in 2018/19.

Thanx you good people.

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By jcace
19th Jul 2018 09:53

You won't submit it as an EYU, but an EPS (if this is for CIS suffered). I've submitted these late in the past i.e. after year end, and not been penalised.
Make sure that the EPS shows the cumulative CIS suffered in the year (depending on the software you use, this might be automatic)

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19th Jul 2018 12:59

Agreed.

An EPS can be submitted after the tax year-end without penalty. Submit the EPS for Month 12, making sure that it includes the YTD figures for not only the CIS tax suffered, but also for any other items (such as SMP recovery) reported on EPSs during the year. Also, mark the EPS as the final RTI return for the year.

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to Euan MacLennan
19th Jul 2018 13:20

Also include NI employers allowance claim or any relief already given will be withdrawn

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By newman
19th Jul 2018 15:43

As YTD figures should be submitted, it would seem sensible only to make an EPS for CIS after the end of a year, to avoid mistakes. Is that what you would do?

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By jcace
to newman
20th Jul 2018 12:12

If CIS is suffered regularly, it's worth submitting details regularly, otherwise HMRC will expect payments. Any mistakes can be rectified on an ongoing basis eg if you overstate the CIS suffered in YTD at mth 7, this will be corrected when you submit the correct YTD figure to mth 8 etc. If you don't make any submissions of CIS suffered until after year end, HMRC will chase for any amount of deductions you have reported for CIS or PAYE, as they will not be aware of any offset.

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to jcace
08th Aug 2018 15:11

Exactly this. It's always a pain for the first couple of months each year, until our CIS clients build up a CIS suffered buffer.

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