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Summer 2004 Newsletter

E-Filing

The Revenue want people to file their PAYE year-end returns over the internet. Then the Revenue can just turn on the computer and go for a tea-break - none of that tedious business of opening envelopes. Of course, it has an advantage for the employer as well - you can be sure that the forms arrived on time, and there can't be a dispute about lost paperwork.

Large employers - with over 250 employees  - will have to e-file for the current year. Employers with over 50 employees will have to e-file next year (2005/06). Smaller employers can e-file when they want to, and will only be forced to do so in 2010. In the meantime, the Revenue will actually pay small employers an annual incentive payment to sign up early - £250 for 2004/05, and £825 in total if you sign up now.

This is more realistic than the £10 offered for filing your tax return over the internet a few years ago, and is definitely worth looking at. It's even tax-free!