PAYE Control
A PAYE control can be carried out to confirm that the correct tax and national insurance has been paid over to HM Revenue and Customs each month/quarter to avoid the possibility of interest being charged for late payment.
Example
| PAYE Control | £ | £ | |||
| Debit | Credit | ||||
| Wages Due at the Start of the Month | 2,471.53 | ||||
| (This is the outstanding figure at the end of the previous month) | |||||
| PAYE/NIC Due in the Month | 2,568.94 | ||||
| (This should include tax and both employee’s and employer’s national insurance) | |||||
| PAYE/NIC Paid in the Month | 2,471.53 | ||||
| PAYE Due at the End of the Month | 2,568.94 | ||||
The balance due at the end of the month should generally be one months PAYE/NIC. This is assuming you have a monthly scheme as opposed to a quarterly scheme.
For further help and advice please contact us.