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PAYE and NIC |
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Security for PAYE See TM ¶4684+ The Finance Bill 2010 will contain legislation allowing Revenue and Customs to require a financial security from employers who have a history of serious non-compliance in terms of late or non-payment of PAYE. This will be coupled with a new criminal offence where there is a failure to provide a requested security, which will carry a penalty of up to £5,000. The details of these measures will be implemented by regulation and it is expected these will come into force on 6 April 2011. |
