Advance warning on late payment penalties for PAYE
HMRC has issued an update on the new rules that will apply to late PAYE payments with effect form May of next year. Essentially if more than one payment a year is late a penalty will be charged at graduated rates depending on how late the payment is and how many other late payments have been made in the same year. It will be important to manage payments and contact HMRC in advance if any cash-flow issues arise.
For full details see - http://www.hmrc.gov.uk/employers-bulletin/bulletin33/paye-ontime.htm
Date: 14th October, 2009
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