It’s the end of the month or the quarter. Suddenly, it’s time to pay PAYE tax to HMRC. Accountants are in a race against time to ensure their SME clients aren’t penalised for late payment of PAYE taxes, covering all deductions from their salaries and those of their clients.
Date published
September 30, 2022
Company
Modulr
Are you still rushing to get PAYE tax to HMRC sorted at the end of each month/quarter?
It’s the end of the month or the quarter. Suddenly, it’s time to pay PAYE tax to HMRC. Accountants are in a race against time to ensure their SME clients aren’t penalised for late payment of PAYE taxes, covering all deductions from their salaries and those of their clients.
But there’s another problem: even if accountants have submitted the deductions by the deadline, the payments, usually made by Bacs or Direct Debit, still need three days to clear. Worse still, miscommunication between accountants and their clients adds complexity to the management of payment workflows. Bottlenecks – such as clients needing to authorise the payments – make late payments more likely.
This report will show you how to pay PAYE in 90 seconds by leveraging faster payments for HMRC.
