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…
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