TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Earlier Submission Date for March 2011 VAT Returns and Earlier Electronic Payment Date for PAYE

The filing date of paper VAT returns and cheques for 31 March 2011 periods will be the earlier date of 28 April 2011, in view of Friday 29 April being a bank holiday. The electronic payment date for PAYE this month is also earlier – HMRC must have cleared funds by 21 April.

To avoid paying PAYE late, HMRC must have cleared funds by the due date. For electronic means this is normally the 22nd of the month. However, if the 22nd falls on a non-banking day (weekend or bank holidays), HMRC must have cleared funds by the last bank working day before the 22nd.

Therefore PAYE month 12 for period ended 5 April 2011 falls on Good Friday which is a non-banking day. If paying electronically, PAYE must clear HMRC's bank account by Thursday 21 April 2011. Late payments for this tax year may result in a penalty being charged in addition to interest.

Paper VAT Returns must be received no later than Thursday 28 April, which is classed by HMRC as the last working day of the month. Cheque payments must clear HMRC's bank account by the same date, cheques take three bank working days (defined as Monday to Friday excluding bank holidays) to clear.