10 Apr Change of Bank Details for Employer PAYE Payments
All payroll liability payments are to be made to a central HMRC bank account with effect from this tax year (all employee pay dates made on or after the 6th April 2013). Please read the HMRC’s notice below for further detail of how this may affect your business:-
From 6 April how employers pay PAYE, Class 1 National Insurance contributions, Construction Industry Scheme (CIS) or Student Loan deductions to HMRC is changing. This consists of changes to HMRC bank account details and end of year payments.
Change of bank account details
From the 2013-14 tax year all employers will make their payments into a single HMRC bank account. This change only affects employers who currently make payments into HMRC’s Shipley bank account by Bacs Direct Credit, Faster Payments by online/telephone banking and CHAPS. Employers using the Government Banking Service (GBS)are not affected by this change. From month 1 of the 2013-14 tax year all employers should pay to HMRC’s Cumbernauld bank account.
PAYE payments for the tax year 2012-13 and earlier are not affected by this change.
End of year payments
Previously employers used month 13 to make any balancing end of year payments for PAYE, Class 1 National Insurance contributions, CIS or Student Loan deductions to HMRC. Any balancing end of year payments from 2012-13 onwards should now be paid to HMRC using month 12.
You should now only use month 13 to pay any Class 1A National Insurance owed on your P11D (b).
Source:- CCH Online, dated 8th April 2013
If you have any concerns about how the introduction of RTI for payroll administration will affect your business, please don’t hesitate to contact us via the ‘Contact Us’ page.