Press Release - Businesses Benefit From PAYE Online Filing Incentives
Smaller businesses are benefiting from a Government incentive scheme to encourage businesses to submit their end of year PAYE returns online. Accountants Underwood Lamb, who are based in Chew Magna, have assisted their clients in obtaining over £30,000 in tax free incentive payments from HMRC by submitting electronic PAYE returns for the 2004/05 to 2007/08 tax years.
Although the incentives are gradually diminishing each year as online filing becomes compulsory, Underwood Lamb anticipate securing a further £5,000 for their clients in respect of the 2008/09 PAYE returns when the scheme ends.
Using specialist payroll software which links directly into the HMRC online filing system, Underwood Lamb have been able to ensure their clients have taken advantage of the current incentive scheme.
Linda Dando, Underwood Lamb’s Payroll Services Administrator, commented “It’s not very often HMRC give you something for nothing so we wanted to make sure our clients benefited fully. We have helped clients to claim incentive payments of around £30,000 to date.”
Underwood Lamb’s Managing Director, Rod Podger, added “We provide payroll services to a good number of our clients and whilst we were aware that other firms were making additional charges to file returns online, we were keen for our clients to receive the full benefit of the incentives. We have estimated that by the time the scheme ends, our clients will have benefited to the tune of around £35,000 which is very satisfying for us and obviously very pleasing for our clients.”
Small businesses that are required to make annual PAYE returns and who are not already aware of the online incentive scheme can find more details on the HMRC website www.hmrc.gov.uk
Underwood Lamb provide payroll services to many of their clients and also provide a standalone payroll bureau service for companies wishing to outsource their payroll requirements.