by Stuart McLean
4. May 2010 11:52
HMRC have issued detailed guidelines on penalties for late payment of PAYE deductions due for a period starting on or after 6 April 2010 for:
- monthly or quarterly PAYE (Pay As You Earn)
- student loan deductions
- Construction Industry Scheme (CIS) payments
- Class 1 National Insurance contributions (NICs)
- annual payments of employers' Class 1A NICs
- annual PAYE Settlement Agreements (PSA) payments
- PAYE determinations or charges raised
These penalties will be up to 4% of the total amount that is late for a given tax year.
Full details can be found on HMRC’s web site.
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