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

PAYE for Employers: Special Notice about Electronic PAYE Payment Dates

In order to avoid paying PAYE late HMRC are reminding employers that they must be in receipt of cleared funds by the payment date.

If payment is made electronically this is the 22nd of each month. However, when the 22nd falls on a non-banking day (weekend or bank holiday), HMRC must have cleared funds by the last bank working day before the 22nd. For example: 2011–2012 PAYE month 6 for period ended 5 October 2011, the due date of which is 22 October 2011. This falls on a Saturday-a non-banking day – therefore if paying electronically; the PAYE payment must clear HMRC's bank account by Friday 21 October 2011.

Employers are reminded that it may be necessary to change payment dates to ensure payment is received on time otherwise payment will be classed as late resulting in interest and potential penalties.