Contact Us
Phone: 01483-455508
email: info@cmbpartners.co.uk
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Contact UsPhone: 01483-455508 |
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February 2010 |
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PAYE PENALTIES FROM 5 APRIL 2010From the new tax year penalties will be charged if the PAYE/NI that is due each month is not paid in full and on time. How will the new penalties work?The penalties will be a percentage of the amount paid late. They will start at 1% and increase to 4% depending on the number of late payments in the year. There are also penalties of 5% if any of the PAYE due is still not paid after 6 months: and again after 12 months. You will not get a penalty if you have a reasonable excuse or if you are only late once in a tax year.
Payment Dates 22nd of the month for cleared electronic payments 19th if payment is sent by post (or 17th if you are a large employer) If the amounts you pay are likely to average less than £1,500 per month over the year, you can pay quarterly.
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