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Professional accountants serving the UK and helping small businesses to grow!

Whether you are an expanding company or just starting up, KAMP Accountants is here to help.

With extensive experience working with large and small clients throughout the UK, we support large and small business in a broad range of business sectors with all their accountancy requirements.

How to spread your PAYE payments

Newsletter issue – June 2023

Your business may well be stretched right now, the NMW rates rose by over 10% from 1 April and other input costs have increased by even more, particularly food and energy. It is tempting to use the amounts deducted from your payroll to pay pressing bills, but that is not a good idea.

Where the payroll deductions are not paid over to HMRC on time - by 22nd of each month – late payment interest is charged at 7%.

In addition to the late payment interest, late payment penalties are charged as follows:

Number of late payments in tax year

First penalty

Additional penalty after 6 months

Additional penalty after 12 months

1

none

5%

5%

2–4

1%

5%

5%

5–7

2%

5%

5%

8–10

3%

5%

5%

11 or more

4%

5%

5%

You won‘t receive a penalty if you are late with just one PAYE payment to HMRC in the tax year, as long as the amount due is paid within six months of the due date. But if you need to make monthly payments the penalties will soon mount up where the timing of the regular payments slip for even one day.

Where you are struggling to pay over your PAYE to HMRC on time, you should apply for a time to pay (TTP) agreement through your online business tax account on gov.uk. This can help you spread your PAYE debt over six months.

The TTP agreement will be granted automatically if the following conditions are met:

If the above conditions can‘t be met you should contact HMRC on the payment support service: 0300 200 3825 to negotiate a TTP agreement.

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

  • Accounts and Taxation
  • Accounts prepared on time and presented to you at your premises
  • Income tax calculations and projections
  • Annual superannuation certificates for Partners
  • Practice manager training about bookkeeping
  • 2 - 4 meetings in a year at your premises
  • Personal expenses
  • Payroll
  • SD55 for practice staff
  • Installation and training in respect of practice computerised accounting system
  • Unlimited telephone and email support for adhoc queries

Non - recurrent Services

•VAT advice •Capital gains tax planning •Partnership agreements •Surgeries finances •Pension planning •Budget and cashflow planning •Inheritance Tax planning

Recurrent Annual Services based on fixed fee:

  • Accounts and Taxation
  • Accounts prepared on time and presented to you at your premises
  • Income tax calculations for Principles and Associates
  • Practice manager training about bookkeeping
  • 2-4 meetings in a year at your premises
  • Personal expenses
  • Payroll
  • SD55 for practice staff
  • Installation and training in respect of practice computerised accounting system
  • Unlimited telephone and email support for adhoc queries

Non - recurrent Services

  • VAT advice
  • Capital gains tax planning
  • Partnership agreements
  • Surgeries finances
  • Pension planning
  • Budget and cashflow planning
  • Inheritance Tax planning

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

Medical Practices

Our specialist team provides a wide range of accounting and business services to General Practice.

Recurrent Annual Services based on fixed fee:

Dental Surgeries

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

Recurrent Annual Services based on fixed fee: