The monthly returns for payments to sub-contractors, CIS 300, must be received by HM Revenue & Customs by 19 June. If you have not made any sub-contractor payments you may still be required to submit a NIL return.
For those with PAYE and National Insurance payments averaging £1,500 or more per month funds should reach HM Revenue & Customs bank by 22 June. Last day for paying electronically is affectively Friday 18 June. If paying by other means such as a cheque this should reach them by Friday 18 June. Basically HM Revenue & Customs are seeking to receive cleared funds by 22 June.
In previous tax years HM Revenue & Customs have not fined small employers for late payment however from this tax years you could find yourself liable to a penalty of between 1 & 4% of the amount late depending on how many payments are late. There will be no penalty for the first late payment providing it is not 6 months or more late.
If you miss any of the above payment deadlines you can always pay by card by clicking here
For more information on penalties click here
Posted by Joe Martin providing business services for small businesses and the self employed. Go to my web page here
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment