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Reminder on PAYE payments. Pearson May News Update - Monday 17 May
- Emergency Budget set for 22 June
- Overdraft rates on the rise
- Proposed capital gains tax changes prompt investor worries
- Reminder on PAYE payments
Reminder on PAYE payments
HM Revenue and Customs (HMRC) has issued employers with a reminder that they must get their PAYE payments in on time or face a penalty.
When a payment is made electronically, employers have until the 22nd of each month to pay.
But 22 May falls on a Saturday. This means that the payment for month one of 2010/11 needs to have cleared HMRC's bank account by Friday 21 May.
Payments that don't clear by that date will be deemed to be late, and the employer could end up paying a penalty charge.
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