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.