PAYE, Student loan and CIS deductions are due for the month to 5th November 2016

This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd November. In year interest will be charged if payment is made late. Penalties also apply.

Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5th October 2016

This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual’s coding notice to reflect the change in benefit. This notification may be made by paper or online form.

Where one car is merely replaced with another, this may be reported online.

PAYE, Student loan and CIS deductions are due for the month to 5th May 2016

This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20th May 2016 unless you are able to arrange a ‘Faster Payment’ to clear on or by Sunday 22nd May. In year interest will be charged if payment is made late. Penalties also apply

Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5 April 2016

This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual’s coding notice to reflect the change in benefit. This notification may be made by paper or online form.

Where one car is merely replaced with another, this may be notified online.

Last minute planning for tax year 2016/17

The final deadline of 5th April 2017 is relevant to individuals who have not considered year end tax planning issues. These issues include:

  • utilising your annual capital gains tax exemption
  • utilising your annual inheritance tax exemption for gifts
  • utilising your annual Individual Savings Account investment limit (ISA)
  • making additional pension contributions for 2016/17.

Please do get in touch if you would like any further advice on these or any other issues.

PAYE, Student loan and CIS deductions are due for the month to 5th March 2017

This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd March 2017. In year interest will be charged if payment is made late. Penalties also apply.

5% late payment penalty on any 2015/16 outstanding tax which was due on 31st January 2017 and still remains unpaid

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Classses 2 and 4 NI, capital gains tax or High Income Child Benefit Charge liabilities.

The balance of any outstanding income tax, Classes 2 and 4 National Insurance, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2016 was due for payment by 31st January 2017. Where the payment is made late interest will be charged. On 2 March 2017 a late payment penalty of 5% will be added to the outstanding liability.

If we have already dealt with this matter on your behalf you need take no action.

PAYE, Student loan and CIS deductions are due for the month to 5th June 2016

This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd June 2016. In year interest will be charged if payment is made late. Penalties also apply.