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Old 28th June 2007, 01:34 PM
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Default UK companies save at least £90m a year by submitting payroll year-end tax returns onl

UK firms are making a combined minimum saving of at least £90m by submitting their payroll year-end tax returns online, new research has found. A survey commissioned by software*supplier Sage and conducted by YouGov, questioning 1,368 firms, found that 55% of UK small businesses believe they are saving at least £100 each by submitting their payroll year-end tax returns online, ahead of the deadline. Moreover, nearly seven in 10 respondents had submitted their business’ payroll year-end tax returns online before, or plan to do so this year as opposed to manual submission. Under current guidelines, businesses that have between*one and 49 employees have until 2010 before online payroll year-end submissions become mandatory. However, for those who submit online this year, they will receive a tax rebate of £150. Worryingly, the survey found that three in 10 respondents did not know when the deadline was. Jo Ray, managing director of Sage (UK) limited small business...

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