Variable payment plan goes live on 19 September
On 19 September HMRC’s new “variable payment plan” for payroll deductions and liabilities goes live. How does it differ from current payment arrangements and how can you sign up for it?
The current system for paying monthly payroll deductions by direct debit (DD) requires employers to set up a new direct debit for each payment. This cumbersome arrangement won’t be necessary when HMRC’s “variable payment plan”, launching on 19 September 2022, is up and running.
The new DD arrangement is voluntary and takes up to five days to put in place. If an employer signs up for it HMRC will be authorised to collect the monthly taxes (PAYE, NI contributions, CIS deductions, and apprenticeship levy) by DD in varying amounts on a continuous basis without fresh instructions from the employer. The service can be accessed through Pay employers’ PAYE or your business tax account and employers' PAYE service.
Related Topics
-
Electronic VAT return
-
Government announces significant climbdown on IHT reforms
The introduction of a £1 million cap on 100% business and agricultural property relief from April 2026 has been criticised particularly heavily by the farming industry. The government has announced a significant watering down of the measure. What’s happening?
-
Corporation tax due