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Special rules apply under the IR35 regime if intermediaries were unable to finalise timely calculation of deemed end-of-year payments to PAYE and National Insurance (NI) contributions.
Intermediaries have until 31 January to submit amended returns showing the final figures and to pay any additional amount, provided a payment on account of the estimated tax and NI for 2012/13 was made by 19 April 2013, supported by a P35 showing provisional figures.
Interest will then be levied on late payments made after 19 April 2013, but no penalties will be charged if:
Special rules apply under the IR35 regime if intermediaries were unable to finalise timely calculation of deemed end-of-year payments to PAYE and National Insurance (NI) contributions.
Intermediaries have until 31 January to submit amended returns showing the final figures and to pay any additional amount, provided a payment on account of the estimated tax and NI for 2012/13 was made by 19 April 2013, supported by a P35 showing provisional figures.
Interest will then be levied on late payments made after 19 April 2013, but no penalties will be charged if:
- the original P35 and relevant P14s were received by 19 May 2013, with part two of question six on the P35 answered “yes” and showing remuneration paid during the year, plus an amount on account of the deemed employment payment with tax and NI correctly calculated;
- an amended P35 and accompanying documents notifying the correct final amount for the deemed employment payment and the tax and National Insurance due are sent to HMRC by 31 January; and
- additional amounts due as a result of the amended P35 are paid by 31 January.
The original P35 will be considered to reflect figures that the employer declares to be final and correct if the Revenue does not receive an amended P35 and balancing payment by 31 January.
