|
Rabjohns’ James Geary blows the w histle on new HM Revenue & Customs penalties
From 6 April 2010, a new system of penalties for late payments of PAYE, NIC, CIS & student loan deductions will come into force. This means that any monthly payments of deductions to HM Revenue & Customs (HMRC) which are even a day late may be subject to a penalty.
The level of penalties that can be imposed varies between 1% and 4% of the late month’s due payment, depending on the number of late payments in each tax year. There is no penalty if only one payment is late.
Click here to read more...
|