Employers who have entered into a PAYE billing agreement (PAYA) should ensure that their payment is made to HMRC for the period 2019-20 until October 22, 2020, to avoid interest and late payment penalties. If the payment is made by mail, HMRC is expected to reach it by October 19, 2020. HMRC will not include items such as cash payments, large services such as company cars, goodwill certificates, etc. Customers may be fined or fined if they do not pay or if they are late. Electronic payments must delete HMRC`s bank account by October 22, 2020. Employers may be subject to fines or interest or a late penalty if they do not pay or if their payment is delayed. Should payments be delayed due to the current COVID 19 pandemic, HMRC will consider this a reasonable excuse, but employers will have to demonstrate the impact of COVID-19 on payment payments in a timely manner. For more details on reasonable excuses, click here. Employers are advised not to wait until the payslip arrives before making payments and making their payment based on the values they have calculated and passed on to HMRC for their PSA. PPE payments for fiscal year 2019-20 should be made to the HMRC bank account by October 22, when they are made electronically. Postal payments must be made by October 19. For more information on EPI dates, click here.
The unique reference number of the customer account, which appears on EPI`s confirmation letter, must be indicated at the time of payment. A PAYE Settlement Agreement (EPI) allows employers to make a one-time annual payment to HMRC to pay all taxes and NICs incurred for certain expenses and benefits to employees. Should you have a PSA? If the deadline falls on a weekend or holiday, make sure your payment arrives HMRC on the last business day before it (unless you pay with faster payments). In case of late payment, interest or penalties may be due. September 25, 2020: Employers with a PAYE (PSA) settlement contract should not wait for a HMRC payslip before paying to avoid interest and late payment penalties, warns the ICAEW`s Tax Office. If your client has not received his confirmation letter, he must pay the amount of tax and the amount of social security that they calculate and which have been submitted for his PSA to HMRC. Customers should not wait until they have received their salary confirmation from HMRC. All electronic payments related to the EPI must be transferred to HMRC`s bank account by October 22, 2020. The Institute of Chartered Accountants in England and Wales (ICAEW) has warned that employers who have not yet received a HMRC payslip confirming the amount owed as part of their 2019/20 PPE should make the payment based on the calculations they submitted to HMRC to ensure that the payment is made on time.