When the payslip arrives at the same time each month the majority of us tear it open to see if a miracle has occurred and the bosses have kindly decided to overpay this month. When you realise that this is not the case and it’s the same as every other month it will go into the drawer with all the others never to be considered again. The assumption is made that the tax payments are dealt with and as such will be correct. A few simple steps however can confirm whether this is the case or not. (more…)
Posts Tagged ‘UK PAYE’
Checking your monthly UK payslip – A simple guide
Wednesday, September 8th, 2010Tags: Payroll, Payroll & Benefits, UK International payroll, UK PAYE, UK Payslip
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UK Inland Revenue Payments – Proceed with Caution
Thursday, September 2nd, 2010A tightening in payment dates and penalties for PAYE has highlighted a crucial misconception regarding the payment process to HMRC.
It is not commonly known that HMRC bank accounts cannot receive the Faster Payment Service that the majority of other banks have now adopted.
You make an online payment, your bank says that it is being made under the faster payments system, and should be there same-day but unfortunately, this is not the case. The change to using Citibank for receiving tax payments now seems like a backward step as Citibank accounts, like some ex-building societies turned into banks, cannot accept faster payments. A cynic might argue that this is designed to enhance bank profits (the amount still leaves your account immediately, but does not arrive for 3 days), and also enable HMRC to charge fines and penalties for those payments being received a day or two late. (more…)
Tags: Credit Control, Employment taxes, Government, HMRC, tax deadlines, tax planning, UK PAYE
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