Firms have been warned that making a mistake on a P11D form could cost them as much as £3,000.
HM Revenue and Customs (HMRC) will fine any company filing the form after the July 4th deadline £100, but KPMG has issued the warning that mistakes could cost up to "30 times as much".
John Chaplin, employment tax director at KPMG in the UK, also warned that employers could be fined "over and over again" if the mistakes are made repeatedly on "a number of employees' P11Ds".
He added: "Historically HMRC have not levied the fines and penalties available to them other than in exceptional circumstances.
"However, we suspect this may well change this year as under a new risk-based approach, we are seeing tax inspectors taking a much more adversarial stance and showing a greater appetite for imposing stricter penalties."
KPMG Forensic recently appointed Dan Thomas as its new partner and head of European sales and marketing.
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