HMRC is warning employers that the June electronic PAYE payment deadline of the 22nd falls on a Saturday this month, which means settlement must be made a day early.
Employers must have cleared funds in to HMRC’s account by Friday, 21st June for PAYE payments ended 5th June unless they are able to arrange a Faster Payment to clear on the payment deadline. This is the deadline for electronic payments, cheque payments must be received by 19th June.
Late payments will be charged interest and/or a late payment penalty by HMRC.
‘So that you know what date to initiate your payment and make sure we receive it on time, you may need to speak to your bank/building society well in advance of making your payment to check single transaction, daily value limits and cut off times,’ HMRC said.
Paying Class 1A National Insurance contributions (NIC)
Electronic payment for Class 1A NIC declared on P11D(b) returns for the tax year ended 5 April 2019 must clear into the HMRC account by 22 July 2019.
Use the right payment reference when paying Class 1A NIC
To avoid any problems with HMRC wrongly allocating payments, it is essential to provide the correct payment reference when making payment. This is made up of the allocated 13-character Accounts Office reference, followed by 1913.
It is essential to add 1913 as 19 tells HMRC the payment is for the tax year ended 5 April 2019, and 13 is the indicator that payment is for Class 1A NIC. The reference should have no gaps between the characters.