Information

We have included some information that may be of interest to you.

1. Self-Assessment filing penalties
2. NIC holidays for new businesses
3. VAT crackdown
4. July self Assessment statements
5. Late PAYE payment penalties

Late PAYE Penalties

We are receiving reports of businesses receiving the first penalty notices for having missed the monthly PAYE/NIC payment deadline during 2010/11.  In some cases, where employers have paid late every month, HMRC has charged 4% of their total PAYE liability for the year, which can be a significant number.

Businesses are saying that they did not receive any warnings that they had paid late and might be subject to penalties if they paid late again, and in-year letters chasing payments have not mentioned the possibility of penalties.

Nathan Charles, Unit 6 Eckland Lodge, Desborough Road
Market Harborough, Leicestershire. LE16 8HB
T: 01536 762399 E: info@nathancharles.co.uk