HMRC should extend P11D and P60 deadlines and cease fines until lockdown is over
UK200Group, which represents 600 partners from across legal and accounting firms, is asking the HMRC to extend deadlines for the submission of the P11D and Employment Related Securities (ERC) forms as well as the requirement to send P60s to employees and setting up PAYE Settlement Agreements.
Andrew Jackson, head of corporate tax, Fiander Tovell and chair of the Tax Panel of the UK200Group, comments:
“With lockdown still impacting on thousands of businesses across the UK, many will struggle to complete their legal requirement to submit the likes of P11D, Employment Related Securities (ERC) forms as well as the requirement to send P60s to employees and setting up PAYE Settlement Agreements.
“Many SMEs will not be able to access the relevant data due to government imposed restrictions such as mandatory isolation, so we are therefore asking the HMRC to extend deadlines and remove fines.
“HMRC already has similar arrangements elsewhere – such as allowing a penalty-free period for new capital gains tax returns – and Companies House is allowing extensions for submitting reports and accounts. Doing something similar for payroll requirements is in our opinion critical as many businesses will struggle and it will be causing unnecessary stress at a time when many are already worried about their survival.”
