I want to pay for next months PAYE payment via BACS. Do I still need to post in the yellow slip or will HMRC work out the tax/NI split on the year end PAYE submission?
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I've never sent one if doing bacs and never had anything said to me and last years year end was agreed by them (i.e. I got my £150 rebate). -
Personally I never let HMRC have my bank account details. I don't trust them...Comment
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Why? It's not like all your data is stored on some cd they might lose....Originally posted by BrilloPad View PostComment
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billpay.co.uk - 3rd party run by alliance and leicester iirc.Originally posted by Crossroads View Post
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You used to have to make two payments. One NI, one PAYE. They then apply it to your account in some random fashion.Originally posted by yetanotherone View PostComment
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I've been paying our PAYE tax, employees NI and employers NI as one lump sum VIA BACS for the last 20 months with no problems.
Once I had told my accountant I was paying by BACS, he stopped sending me the little yellow slips......Comment
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From the horses mouth:-Originally posted by r0bly0ns View Post
"We will estimate the split of your payment between PAYE and NIC and correct the allocation later when we process your Employers Annual Return (P35 and P14s).
If you make separate payments of PAYE and NICs you can continue paying as now."
It appears the system has now changed. They used to insist on two seperate payments.Comment
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You can make one payment which gets allocated based on estimates, which is then corrected at year end.
You don't need to send in the yellow slips, but ensure that you quote your PAYE reference and period on the payment details.
Also worth noting that if your payment is less than £1500, you can opt to pay quarterly. If you don't state the period on the details, the payment will be allocated to the next available period, then you will start to get reminder notices for the last quarter.Comment
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