Deadlines: PAYE & NIC for HMRC – Penalties for late payment

25 Feb Deadlines: PAYE & NIC for HMRC – Penalties for late payment

HM Revenue & Customs have recently issued revised guidance in relation to penalties for late payment of PAYE & NIC’s for employers.

The penalties are based on the number of times late in a tax year as follows: –

1 – No penalty as long as less than six months late

2-4 – 1%

5-7 – 2%

8-10 – 3%

11 or more – 4%

If you would like more information on the above or any other payroll matter, please contact Harrisons Accountants in Biggleswade on 01767 312696 or via email.