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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

Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this blog with Cathy you can call her on 01908 605552.

 

 

Date: 14th October, 2009
Author: Cathy Corns

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