As with most taxes, if payment is late, interest is charged and sometimes penalties too.
PAYE can be paid monthly or quarterly – the latter option is available when the liability is less than £1500 per month. The downside is that it can be more easily overlooked than if it is paid monthly.
PAYE is due by the 22nd of the next tax month if paid monthly, and due by 22nd July after the end of the quarter if paying quarterly e.g., by 22 October for the period 6 July – 5 October.
If paid by cheque it must reach HMRC by the 19th of the month.
Payment can be made through online banking, telephone banking or by debit or corporate credit card online. However, the easiest way is to set up a direct debit to ensure it is paid on time. This can be done through your HMRC online account.
Please contact us if you need any assistance or would like us to set up a reminder system for you.
