Thursday 7 March 2013

Tax events due on March 19

The following Tax Events are due on 19 March 2013:
PAYE, Student loan and CIS deductions are due for the month to 5th March 2013
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 March 2013. Penalties may apply if payment is made late.

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