Wednesday 11 April 2012

Tax events due on April 19

The following Tax Events are due on 19 April 2012:
Automatic interest is charged where PAYE tax, Student loan deductions, Class 1 NI or CIS deductions for 2011/12 are not paid by today. Penalties may also apply if any payments have been made late throughout the tax year.
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
PAYE quarterly payments are due for small employers for the pay periods 6th January 2012 to 5th April 2012
What this means for you?
This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Where the payment is made electronically the deadline for receipt of cleared payment is 20th April 2012. Penalties may apply if payment is made late.
PAYE, Student loan and CIS deductions are due for the month to 5th April 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by today even if a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 20th April 2012. Penalties may apply if payment is made late.

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