PAYE, Payroll Services, Payroll UK, Payroll Solutions, Payroll Outsourcing

Electronic PAYE payment dates

To avoid paying late you must make sure HM Revenue & Customs (HMRC) have cleared funds by the due date. If you pay electronically this is the 22nd of each month. However when the 22nd falls on a non banking day (weekend or bank holiday), HMRC must have cleared funds by the last bank working day before the 22nd.

For example: 2011-2012 PAYE month 6 for period ended 5 October 2011.

The due date of 22 October 2011 falls on Saturday – a non banking day – if you are paying electronically, your PAYE payment must clear HMRC’s bank account by Friday 21 October 2011.

You may therefore need to change your payment date to ensure you pay on time. 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.

For more about this PAYE story please visit : http://www.hmrc.gov.uk/news/elec-paye-date.htm

photo by graur razvan ionut http://www.freedigitalphotos.net/images/view_photog.php?photogid=987

For more about PAYE and Payroll please visit Payroll Services, Payroll Service, Payroll UK, Payroll Solutions, Payroll Outsourcing, Payroll Management