Each month, you need to pay HM Revenue and Customs (HMRC) the tax and National Insurance you owe as reported on your Full Payment Submission (FPS) in the previous tax month, minus the reductions on any Employer Payment Summary (EPS) you sent before the 19th in the current tax month. To see the various different ways of paying your tax, please click here: https://www.gov.uk/pay-paye-tax.
You must pay what you owe by the 22nd of the month (or 19th if by post), and you may have to pay a penalty if you do not.
As an employer operating PAYE as part of your payroll, you need to complete certain tasks during each tax month. Tax months run from the 6th of one month to the 5th of the next. You must also tell HMRC if you have not paid any employees in a tax month.
There are some areas of consideration to remember when paying your employees:
If you require any assistance or have questions regarding paying your self assessment tax bill in accordance with the Government information listed above, please contact our friendly team of experts today by clicking here.