HMRC late payment penalties

27 August 2014

HM Revenue and Customs (HMRC) have issued new guidance clarifying the details of the late payment penalties which can be charged on PAYE amounts that are not paid in full and on time.

The guidance explains that the payments which can attract these penalties include:

  • monthly, quarterly or annual PAYE
  • student loan deductions
  • Construction Industry Scheme (CIS) deductions
  • Class 1 National Insurance contributions (NICs)
  • annual payments of employers’ Class 1A and Class 1B NICs
  • determinations made by HMRC where it appears that there may be further tax payable
  • decisions, for example about a person’s liability to pay NICs and the amount payable