BUSINESSES about to submit their end-of-year payroll returns to the Inland Revenue may be liable to pay unexpected deadline penalties.
Accountants Baker Tilly, based in Newcastle, have warned that late businesses could incur fines of £100 a day for every 50 employees on their payroll.
Jim Meakin, tax specialist partner at Baker Tilly, said: "In the past, an extra week was allowed after the deadline of May 19 for businesses lagging behind.
"It was even shown on the return form. This year, the form clearly states that it must reach the tax office by May 19 and a penalty may be charged if it is late."
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