Tax Bulletin

IR35 intermediaries
In relation to Schedule 12 to the Finance Act 2000 (Provision of Services through an Intermediary) if it is not possible to complete the deemed payment calculation by 19 April the Revenue will accept a payment on account at that date of the tax and National Insurance contributions due on the deemed payment. However the company will need to tell the Revenue in a note accompanying the form P35 by 19 May that the amount paid on 19 April and reflected in the end of year forms sent in by 19 May is provisional.
Interest will be due in the normal way on any of the tax or National Insurance contributions due on the deemed payment that is not paid by 19 April. But as long as the company tells the Revenue by 19 May that the figures are provisional no penalties will...