Postal delays sometimes occur, which is why HMRC recommends the security and certainty of electronic payments. If your payment arrives late you may be liable for a late payment penalty. However, please note:. Faster Payments is a service that has been introduced by the banking industry for sending online or telephone banking payments on the same or next day, providing the value of the payment does not exceed the limit set by your own bank or building society.
If paying by post, your cheque payment must be posted early enough to reach HMRC no later than the 19th of the month. To allow for possible postal delays, for which HMRC are not responsible, please allow at least three working days for the payment to arrive. For interest and penalty purposes your payment is treated as being received on the day your cheque arrives. Where HMRC receive it on a day that the office is closed the date used will be the day the office was first closed.
For example, cheque received on a Monday will be treated as having been received on the Saturday before. If you don't submit your FPS, or an EPS telling HMRC that you haven't paid any employees in the tax month, on time they may raise an estimated charge which they refer to as a 'specified charge'. Only the submission of the missing FPS or EPS for each month will replace the specified charge s with the amount that is due for each month according to your records - which you should pay without further delay.
If you send in updated year to date figures in your next FPS instead, the specified charges will remain in place, but your accounting record will be adjusted - to reflect the year to date figures supplied in the later month. Again, you should pay what is overdue without further delay. However, you will still only be expected to pay in full on a quarterly basis rather than monthly.
HMRC make the charge after the end of the tax year once all the end-of-year returns have been received. For tax years onwards, HMRC will charge daily interest on all unpaid amounts from the due and payable date to the date of payment, and raise the charge when payment in full has been made. There's more about this in the helpsheet below. Check current and historic HMRC interest rates on late payments. This means you may have to pay a late payment penalty if you do not pay the PAYE due each month, quarter or annually, on time and in full.
Find out more about late payment penalties. Problems paying HMRC: advice for businesses, individuals and tax agents. The deadline for this is the 19th of the month following the end of the tax month for that pay period. If you run your payroll more or less frequently than monthly then you still only need to submit one EPS in a tax month. If you anticipate that you will not be making any payments to employees for a period exceeding a tax month, then you should let HMRC know. HMRC can arrange quarterly or even annual payment options, depending on your circumstances.
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What National Insurance do I pay after retirement? What happens if I retire abroad? What is the tax position when I take money from my pension flexibly? How do I cash in my small pension? UK We use some essential cookies to make this website work.
Accept additional cookies Reject additional cookies View cookies. Hide this message. Part of Employ someone: step by step. Running payroll. Print entire guide. Step 1 : Check your business is ready to employ staff. Prepare your business to take on employees. Step 2 : Recruit someone.
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Avoid discrimination during recruitment Make your application process accessible for employees with disabilities or health conditions. Find out how to check an applicant's right to work. Step 3 : Check if they need to be put into a workplace pension.
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