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Tuesday, 22 November 2011

HMRC to demand PAYE deposits in 2012

From April 2012 HMRC will have the power to demand deposits from new companies for PAYE and class 1 NIC contributions.

It is expected that they will ask for PAYE deposits for the same reasons as they currently do for VAT deposits

Directors of the new company have failed to comply with tax legislation in the past and have a record of building up arrears are some of the reasons given.

Read our new page on PAYE security deposits

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