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DON’T MISS YOUR PAYMENT DEADLINES

As we expected, HMRC has started sending out fines for late payments of PAYE over the last tax year. The penalty is being charged at 4% of the PAYE amount due – EVEN IF IT WAS ONLY ONE DAY LATE.

Your PAYE payment must clear HMRC’s bank account by 19^th of the month if paid by cheque, and 22^nd if paid electronically. If the 19^th or 22^nd of the month is on a weekend, then the payment must clear by the bank working day BEFORE.

Please let us know if you receive a penalty notice and we can try an appeal, but notice was given at the beginning of the year that HMRC intended to do this – we also included a warning in our newsletters.

So, don’t be late with payments.

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