unpaid invoice payroll delayed -warning of penalty from HMRC
Discussion
I am a 1 person IT consultancy Ltd company waiting on payment of an invoice from early March. Until I get this invoice paid, I am unable to run payroll via Quickbooks, which does the FPS submission to HMRC.
So, can I run the payroll before I get the invoice payment into my business bank account? It should arrive in the next few days.
I got a warning message today from HMRC that the payroll is late and they will issue a penalty, if it is not done before the 19th
Which month's payroll is delayed?
If you're not making any payment to yourself from 6th of the month to 5th of the following month just complete a 'nil' EPS for the month in question rather than your usual FPS.
If you're just delaying payment during the month in question then just submit your FPS in the normal way but using the date when you actually made the payment - it doesn't have to be the same date every month.
If you're not making any payment to yourself from 6th of the month to 5th of the following month just complete a 'nil' EPS for the month in question rather than your usual FPS.
If you're just delaying payment during the month in question then just submit your FPS in the normal way but using the date when you actually made the payment - it doesn't have to be the same date every month.
gmaz said:
ConnectionError said:
Can you not run payroll, and then pay your self when funds allow?
That's what I'm askinggmaz said:
Basically there is not enough balance in my business account to cover my salary of £758. I contract to 1 company and invoice them on a month by month basis.
Can you not run the payroll in the normal way and delay paying yourself until the cash comes in?That's perfectly allowable.
PS - where's your accountant in all this?
We just run payroll and submit the FPS when requested otherwise HMRC get a bit arsey.
We generate the payroll payment file to import into our banking software but just delay actually importing it until there are funds to cover it in there, usually when we dont want to take out of a higher interest account just because incomming is a bit late.Never had an issue.
We generate the payroll payment file to import into our banking software but just delay actually importing it until there are funds to cover it in there, usually when we dont want to take out of a higher interest account just because incomming is a bit late.Never had an issue.
gmaz said:
Basically there is not enough balance in my business account to cover my salary of £758. I contract to 1 company and invoice them on a month by month basis.
You should think about paying yourself 1047.50 a month now as you’ll save about £200 a year despite having to pay about £400 in employer NI.Giantt said:
But not £785 in the bank?Not much of a business to be ltd?
I'm semi-retired, just providing ad-hoc support for a legacy application until it eventually gets replaced.trickywoo said:
You should think about paying yourself 1047.50 a month now as you’ll save about £200 a year despite having to pay about £400 in employer NI.
See above, sometimes my monthly invoices are less than £1K a month.Gassing Station | Business | Top of Page | What's New | My Stuff