PAYE

THE REVENUE ARE IMPOSING PENALTIES FOR LATE PAYMENT OF PAYE!

The penalties for late paymetns are as follows:

The amount of the penalty will depend on the number of defaults in any 12 month period. The first time the tax payer defaults, they will not receive a penalty.

For defaults 2 - 4 the penalty will be 1% of the tax unpaid

For defaults 5 - 7 the penalty will be 2% of the tax unpaid

For defaults 8 - 10 the penalty will be 3% of the tax unpaid

For 11 or more defaults the penalty will be 4% of the tax unpaid

Further penalties of 5% of any amounts of tax still unpaid at 6 and 12 months and

Late payment penalties will not be charged during an agreed time to pay arrangement with HMRC unless the taxpayer defaults or misuses the arrangement.

To ensure that you don' t incur penalties make sure your PAYE payments are made by the 19th of each month.

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