news-banner

news

PAYE payment deadline approaches

21st April 2022

Employers have about a month to make electronic PAYE payments for April, ahead of the deadline on 22 May 2022.

HMRC is warning taxpayers that this deadline falls on a weekend. This means payment needs to reach HMRC by 20 May, unless faster payment is available.

Any late payments will incur a penalty, so it is recommended you check single transactions, daily value limits and cut-off times with your bank or building society.

If employers need to register for a PAYE settlement agreement (PSA) or make any amendments to an existing PSA, they have until 5 July for the 2021/22 tax year. Any additional items added to a PSA will result in an appendix to an existing agreement, not a new agreement.

Employers who have not yet registered to payroll expenses and benefits are also being encouraged to sign up for the tax year 2023/24. Payrolling will mean employers will no longer need to submit a P11D for each employee, making the process easier and quicker.

Those who had an informal agreement with HMRC to payroll benefits in 2021/22 should plan to formalise an agreement soon, as HMRC may no longer accept new informal arrangements.

Talk to us about PAYE and payroll.

Social Sharing Links