Monday 10 September 2012

Tax events due on September 19

The following Tax Events due on 19 September 2012:
PAYE, Student loan and CIS deductions are due for month to 5th September 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 Friday 21st September 2012 unless you are able to arrange a 'Faster Payment' to clear on or by 22nd September. Penalties may apply if payment is made late.

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