A new survey suggests that UK small businesses are making a combined saving of at least £90 million by submitting their payroll year end tax returns online.
The study was conducted by YouGov on behalf of Sage (UK) Limited and gathered information from 1,368 businesses.
It found that 55 per cent of UK small businesses are making an estimated saving of £100 each by submitting information online in this way.
Most of these businesses said they utilised the online facility because it was very easy to use and saved them time and therefore money.
However, experts argue that more still needs to be done to ensure the rest of business start-ups and other UK businesses benefit in this way.
Jo Ray, managing director of Sage (UK) Limited, Small Business Division, told Onrec: "Clearly from the results of the survey, there are great savings to be had by any business, but more needs to be done to make businesses aware of the benefits they are entitled to."
Businesses that have between one and 49 employees have until 2010 before online payroll year end submissions become mandatory. They will, however, benefit if they choose to submit online this year - receiving tax mitigation in the form of a £150 tax rebate.
The survey indicated that businesses who do not currently submit their payroll year end tax returns online are missing out on a combined tax benefit of around £78million this year alone.
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