Friday 12 October 2012

Tax events due on October 19

The following Tax Events are due on 19 October 2012:

PAYE quarterly payments are due for small employers for the pay periods 6th July 2012 to 5th October 2012.
What this means for you?
This deadline is relevant to small employers 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 22nd October 2012. Penalties may apply if payment is made late.

PAYE, Student loan and CIS deductions are due for the month to 5th October 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 22nd October 2012. Penalties may apply if payment is made late.

Tax and NI due under a 2011/12 PAYE Settlement Agreement
What this means for you?
This deadline is relevant for employers who have entered into a PAYE settlement agreement to pay tax and national insurance in respect of benefits in kind for their employees for the year ended 5th April 2012.
Where the payment is made electronically the deadline for cleared receipt of cleared payment is 22nd October 2012.

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