Business News

May 2011

Don’t Forget To PAYE On Time, Says HMRC

HM Revenue & Customs (HMRC) has issued a reminder on due dates for PAYE payments made electronically.

It says that to avoid paying late, HMRC must receive cleared funds by the due date, which is the 22nd of each month when payments are made electronically.

However, when the 22nd falls on a non banking day – a weekend or bank holiday – HMRC must have cleared funds by the last bank working day before the 22nd.

HMRC says: “If you do not do so, you will be noted as paying late, and late payments for this tax year may result in a penalty being charged.”

LINK: Payments and Deadlines