This Content Was Last Updated on November 5, 2015 by Jessica Garbett
Just a reminder that late in year PAYE / NI payments are now subject to penalty.
The penalties increase according to how many late payments there are in a 12 month period, and aren’t assessed until after the end of the tax year – meaning a ticking time bomb can be building up, and a expensive one at that.
Initial appeals against these penalties have not have much success in the tribunals, and the possible “reasonable excuses” are limited.
Businesses need to be organised to get their montly or quarterly PAYE / NI in on time.