Don’t create unnecessary work for yourselves on HMRC quarterly reporting, urges specialist

Contracting specialist Nova is urging agencies to avoid creating unnecessary work for themselves when supplying the newly-required quarterly reports to HMRC on all workers where they don’t operate PAYE on their payments.

Director, Marcus Green, said: “Some agencies have started putting weekly reports together and, of course, we’re more than capable and happy to help them do so, but we’re advising clients that once-a-quarter reporting is more time and cost effective for them and cuts down the risk of errors, which could result in penalties.

“The new rules came into effect in April and the deadline for the first quarterly report to HMRC is the first week in August. Late, incomplete or incorrect reports could result in a £250 for a first offence, £500 for a second and £1,000 for third and later offences. We have worked closely with a number of agency clients to help them ensure that compliant processes are in place and that reports will be filed in good time to meet the deadline.”